SoFi Technologies, Inc. (NASDAQ:SOFI) shares surged in Wednesday’s premarket session, tracking a broader market rally.
U.S. stock futures jumped after President Donald Trump announced a two-week ceasefire on Iran strikes, easing geopolitical tensions and boosting risk sentiment following Tuesday’s mixed close.
SoFi Launches Big Business Banking Platform
Separately, SoFi unveiled SoFi Big Business Banking, a new platform designed to help enterprise clients manage both traditional (fiat) and crypto transactions within a single regulated system.
The offering allows businesses to hold deposits, move money in real time, and settle transactions around the clock, aiming to streamline financial operations.
The platform combines the capabilities of a nationally chartered bank with modern, API-driven infrastructure, enabling 24/7 functionality.
This launch builds on SoFi’s broader blockchain push, including its crypto services, SoFiUSD, and regulated on-chain infrastructure. By integrating these elements, the company is positioning itself to expand its footprint in next-generation financial services.
Early participants include Mastercard Inc. (NYSE:MA), BitGo, and Fireblocks, signaling strong institutional interest.
Technical Analysis
The broader market saw gains on Tuesday, with the Technology sector rising 4.33%. SoFi’s rise comes as the sector experienced significant upward momentum, suggesting that the stock is moving in line with broader market trends.
At $17.53, the stock is trading 4.9% above its 20-day simple moving average (SMA), indicating short-term bullish momentum. However, it is trading 7.3% below its 50-day SMA and 24.1% below its 100-day SMA, suggesting that while there is short-term strength, the intermediate and long-term trends remain bearish.
The relative strength index (RSI) is currently at 36.44, which indicates neutral momentum, suggesting that the stock is neither overbought nor oversold at this time. The moving average convergence divergence (MACD) shows a bullish signal, with the MACD at -0.9633 and the signal line at -1.0802, indicating potential upward momentum as the MACD is above the signal line.
- Key Resistance: $18.00 — This level may act as a barrier for upward movement.
- Key Support: $16.50 — This level has historically provided buying interest.
SoFi has shown a strong 12-month performance with a return of 69.58%, reflecting a significant recovery from its lows. Currently, the stock is positioned above its 52-week low of $8.60, which suggests a positive trend in the longer term.
Earnings & Analyst Outlook
SoFi Technologies is slated to provide its next financial update on April 29, 2026 (confirmed).
- EPS Estimate: 12 cents (Up from 6 cents)
- Revenue Estimate: $1.05 billion (Up from $770.72 million)
- Valuation: P/E of 41.3x (Indicates premium valuation)
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $24.53. Recent analyst moves include:
- Barclays: Equal-Weight (Lowers Target to $18.00) (April 6)
- Wells Fargo: Initiated with Equal-Weight (Target $19.00) (March 19)
- Truist Securities: Hold (Lowers Target to $21.00) (February 18)
Top ETF Exposure
- Vanguard Small Cap ETF (NYSE:VB): 0.43% Weight
- Vanguard Small Cap Growth ETF (NYSE:VBK): 1.00% Weight
- ARK Fintech Innovation ETF (NYSE:ARKF): 3.92% Weight
Significance: Because SOFI carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
SOFI Stock Price Activity: SoFi Technologies shares were up 8.75% at $17.52 during premarket trading on Wednesday, according to Benzinga Pro data.
Photo via Shutterstock
Recent Comments