Goldman Sachs analyst Michael Ng reiterated a Neutral rating and $9.50 price target on SoFi Technologies (NASDAQ: SOFI)

The analyst comments "Bottom line: SOFI should trade higher on the Lending- and Financial Services-driven beat, in-line 2Q25 guidance, and 2025 guidance raise. Originations showed continued momentum with loan performance supporting SOFI’s historical framework; credit performance strengthened in the quarter with on-balance sheet 90-day delinquencies for Personal declining qoq from 55 bps to 46 bps and stable for Student at 13 bps. Capital markets activity remained strong in the quarter. SOFI’s 1Q25 EBITDA of $210 mn beat GS/consensus (Visible Alpha Consensus Data) of $192/$180 mn driven by outperformance in revenue and segment contribution profit. Financial Services contribution profit of $148 mn beat GS/consensus of $137/$125 mn. Technology contribution profit of $31 mn was in-line with GS/consensus of $31/$32 mn. Lending contribution profit of $239 mn beat GS/consensus of $209/$221 mn. Originations of $7.2 bn was modestly below our $7.5 bn estimate, but beat consensus of $6.5 bn. The miss relative to our estimate was largely on Student and Home, with Personal of $5.5 bn in-line with our forecast. SOFI’s 2Q25E guidance was largely in-line with revenue of $785-$805 mn (v. consensus of $787 mn), EBITDA of $200-$210 mn (v. consensus of $208 mn), and EPS of $0.05-$0.06. 2025E guidance was raised with revenue of $3.235-$3.310 bn (v. $3.200-$3.275 bn prior), EBITDA of $875-$895 mn (v. $845-$865 mn prior), EPS of $0.27-$0.28 (v. $0.25-$0.27 prior), and $585-$600 mn TBV growth (v. $550-$575 mn prior)."

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Shares of SoFi Technologies closed at $13.20 yesterday.