The broader markets have rebounded on cooling recession fears. However, SoFi Technologies (SOFI) is trailing behind, with its stock trading about 14% lower year-to-date. While SoFi stock has underperformed, the financial technology company’s fundamentals remain solid, reflected through its consistently strong financial results, expanding member and product ecosystem, diversification towards fee-based earnings, and improved monetization. These factors are setting the stage for a major comeback in SoFi stock.
While SoFi stock is trading near analysts’ average price target, at least one analyst expects it to climb to $20, the Street-high price target. This implies a potential upside of 50% from current levels. Let’s take a closer look.
