Analysts Target SoFi Technologies Stock After Beat-and-Raise

SOFI has already lost 59.5% in 2022

Deputy Editor
Aug 3, 2022 at 9:27 AM
facebook X logo linkedin

SoFi Technologies Inc (NASDAQ:SOFI) stock is surging ahead of Wall Street's open, last seen up 12% to trade at $7.18 following the release of the company's second-quarter financial results. Specifically, the fintech concern posted better-than-expected earnings and revenue, and issued a sunny full-year revenue guidance, with results boosted by a 91% year-on-year pop in personal loan originations.

A few analysts were quick to weigh in with price-target hikes following the results, with Credit Suisse and Mizuho raising their price objectives to $8.50 and $8, respectively. Coming into today, seven brokerages rated the equity "strong buy," while four said "hold."

Short sellers, meanwhile, have targeted the stock at a quickened clip, rising 6.5% in the most recent reporting period. These bears are firmly in control, with short interest making up 21.1% of the stock's available float. 

Options traders, meanwhile, have favored bearish bets, per SoFi Technologies stock's Schaeffer's put/call open interest ratio (SOIR) of 0.66, which ranks in the elevated 83rd percentile of annual readings. This indicates a clear put-bias amongst short-term options traders, despite calls outnumbering on an absolute basis.

On the charts, SOFI has taken a 59.5% haircut in 2022, but today's gains, should they hold, would put the equity on track to close above $7 for the first time since July 21. The shares also have a chance to move above the 100-day moving average, which has weighed on SoFi Technology stock since early December 2021.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI