Where are shares of financial technology company SoFi (NASDAQ:SOFI) headed? That is a top question many investors have after SoFi was granted a bank charter.
News of the bank charter was warmly received by investors who pushed SOFI stock up more than 10%. However, since then, the company’s share price has fallen along with the broader stock market and hit a fresh 52-week low of $10.51 on Jan. 28.
Analysts have been trying to make sense of just where the share price is headed in coming months as global stock markets continue to gyrate. Here is a look at the price targets and recommendations various analysts currently have on SOFI stock.
SOFI Stock Price Predictions
- Rosenblatt Securities currently has a “buy” rating on SOFI stock and a $25 price target, which is 107% higher than the current price of the shares.
- Citigroup also holds a “buy” rating on the stock and has a $20 price target, implying 66% upside from current levels.
- Wedbush also maintains a $20 price target and a “buy” rating on SOFI stock.
- Mizuho Securities has a “buy” rating on shares of SoFi, but maintains a lower price target of $17 a share, which would still be 41% higher than where the stock is currently trading.
Among 10 professional analysts who cover SoFi stock, the median price target is currently $20, with a high estimate of $28 and a low estimate of $16 per share. The median price target would be 80% higher than Friday’s closing price.
What’s Next for SoFi
Like a lot of stocks that have been knocked lower in recent weeks, the view among analysts is that SoFi is attractive and represents a buying opportunity at its current share price.
Investors looking for bargains in the market right now might want to buy SOFI stock. Just keep in mind that the share price may not have bottomed yet and could go lower before it rebounds.
On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
