Is SOFI Stock a Buy After Earnings? 3 Analysts Weigh In on SoFi Price Predictions.

SoFi Technologies (NASDAQ:SOFI) stock is up 10% today after the online lender reported positive earnings and gave strong guidance for the year ahead.

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The San Francisco-based company reported fourth-quarter revenue of $286 million, up 67% from a year earlier. SoFi’s net loss in Q4 widened to $111 million from $82.6 million a year earlier. However, the company provided some bullish forward guidance. SoFi expects to grow adjusted net revenue 55% year over year, to $1.57 billion, and deliver adjusted earnings of $180 million for full year 2022.

The strong fourth-quarter print follows news last week that SoFi is buying privately held core processing company Technisys in an all-stock deal valued at $1.1 billion. Core processing systems allow banks to carry out their daily operations, such as managing deposits, loans and other transactions.

With SOFI stock jumping higher today, we thought it would be instructive to look at the price predictions of some top analysts who cover the company. SoFi’s shares finished trading yesterday at $11.20.

SOFI Stock Price Predictions

• Bank of America has a “hold” rating on SOFI and a $14 price target, which would be 16% higher than where shares currently trade.
• Oppenheimer also has a “buy” rating on the shares and an $18 price target, implying 50% upside.
• Wedbush maintains a “buy” rating on SoFi Technologies stock with a $20 price target, which would be 65% higher than current levels.

What’s Next for SoFi

Among 11 analysts who track SoFi Technologies, the median price target on the stock is currently $18, suggesting 50% growth over the coming 12 months. The latest earnings and guidance from SoFi seems to have emboldened the bullish case for the stock among investors and analysts.

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.

Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.