Loop Capital Initiates Coverage of SoFi Technologies at Hold
Fintel reports that on September 9, 2026, Loop Capital initiated coverage of SoFi Technologies (NASDAQGS:SOFI) with a Hold recommendation.
On September 8, 2026, the day before the rating action, the stock closed at $18.01. On September 9, 2026, the latest close was recorded at $17.33. This represents a price change of -2.86% over one week, compared to a baseline close of $17.84 on September 2, 2026. Over a one-month period, the price change was -5.71% from a baseline close of $18.38 on August 7, 2026.
As of August 28, 2026, the current consensus target mean for the stock was $20.45, with a median target of $18.87. This mean target represents an implied change of +17.99% from previous levels. The prior consensus target mean was $20.21 as of August 4, 2026, marking a consensus target revision of +1.18%. In terms of analyst recommendations, as of September 1, 2026, the current recommendation period showed a total of 31 recommendations: 6 strong buy, 8 buy, 13 hold, 3 sell, and 1 strong sell. This breakdown represents 45.2% positive, 41.9% hold, and 12.9% negative recommendations. In the prior period as of August 1, 2026, there were 30 total recommendations, consisting of 6 strong buy, 7 buy, 13 hold, 3 sell, and 1 strong sell, which represented 43.3% positive, 43.3% hold, and 13.3% negative recommendations.
Other recent analyst actions include Scotiabank initiating coverage on September 2, 2026, with a Sector Outperform rating. On August 17, 2026, Piper Sandler initiated coverage, moving the stock from Neutral to Overweight. Additionally, Truist Securities maintained a Hold rating on August 12, 2026, keeping its previous Hold recommendation.
SoFi Technologies reported its latest earnings on July 29, 2026. The actual earnings per share (EPS) was 0.12, compared to an estimate of 0.1123, representing an EPS surprise of +6.86%. The actual revenue was reported as $1,205,550,000,000,000.00, compared to an estimated revenue of $1,143,134,910,000,000.00. According to the company's EX-99.1 filing dated July 29, 2026, SoFi reported record net revenue of $1.2 billion, record member and product growth, and net income of $157 million. The filing also noted that adjusted net revenue was up 40% to a record $1.2 billion, and adjusted EBITDA was up 44% to a record $358 million. Total loan originations reached a record $14.8 billion, and member growth was up 35% to a record 15.8 million members.
Furthermore, in its Form 10-Q filing dated August 6, 2026, the company detailed its historical expansion, noting that during 2020, the company expanded its investment product offerings into Hong Kong through the acquisition of 8 Limited and began operating Galileo Financial Technologies. During 2022, the company became a bank holding company and began operating as SoFi Bank, National Association, through its acquisition of Golden Pacific Bancorp, Inc.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 9, 2026 | Loop Capital | Hold | initiated coverage | |
| September 2, 2026 | Scotiabank | Sector Outperform | initiated coverage | |
| August 17, 2026 | Piper Sandler | Neutral | Overweight | initiated coverage |
| August 12, 2026 | Truist Securities | Hold | Hold | maintained |
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This story originally appeared on Fintel.