SoFi Stock May Have Peaked

SoFi (SOFI) shows strong technical momentum, with a 68% gain since April.
Shares are trading above key moving averages, signaling continued bullishness.
Revenue and earnings are projected to grow significantly over the next two years, supporting the stock’s recent price appreciation.
Analyst sentiment is mixed, with some calling SOFI overvalued and others rating it a “Buy,” reflecting uncertainty about further upside.

Valued at $23.8 billion, SoFi Technologies (SOFI) provides a consumer-focused financial technology platform.

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. SOFI checks those boxes. Since the Trend Seeker signaled a buy on April 28, the stock has gained 63.18%.

SOFI Price vs. Daily Moving Averages:

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

SoFi Technologies shares hit a new 52-week high on July 29, touching $25.11 in intraday trading.

SoFi Technologies has a Weighted Alpha of +209.12.
SOFI has an 88% “Buy” opinion from Barchart.
The stock has gained 232.5% over the past year.
SOFI has its Trend Seeker “Buy” signal intact.
SoFi Technologies is trading above its 20-, 50-, and 100-day moving averages.
The stock made 7 new highs and gained 15.13% in the last month.
Relative Strength Index (RSI) is at 57.77%.
There’s a technical support level around $21.20.

$23.8 billion market capitalization.
90.88x trailing price-earnings ratio.
Revenue is projected to grow 31.05% this year and another 22.38% next year.
Earnings are estimated to increase 110.84% this year and an additional 65.69% next year.