SoFi Technologies, Inc

Section 1: Company Overview and Fundamentals

1.1 Company Overview:

SoFi Technologies, Inc (NASDAQ: SOFI) is a digital financial services platform that operates as a member-focused, one-stop ecosystem enabling customers to borrow, save, spend, invest, and protect their money. The company operates through three segments: Lending, which provides personal, student, and home loans along with end-to-end servicing; Technology Platform, which offers cloud-native banking infrastructure and API-based financial processing solutions; and Financial Services, which delivers products such as SoFi Money and SoFi Invest to support everyday banking and investment needs.

Kalkine’s American Tech Report covers the Company Overview, Key positives & negatives, Investment summary, Key investment metrics, Top 10 shareholding, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Price Performance:

• The stock previously exhibited a strong uptrend through mid-2025, forming consistent higher highs and higher lows before peaking near the USD 30–32 range.
• Momentum weakened in late Q4 2025, leading to a structural shift into a downtrend characterized by lower highs and lower lows.
• Price has broken decisively below both the 20-day (USD 20.91) and 50-day (USD 24.40) moving averages, which are now sloping downward, confirming short- to medium-term bearish momentum.
• The 20-day moving average has crossed below the 50-day moving average, reinforcing negative trend alignment.
• RSI is near 23–24, indicating oversold conditions and suggesting potential for a short-term technical bounce, though not yet a confirmed reversal.
• Volume spikes during declines indicate elevated selling pressure during the corrective phase.

1.2 The Key Positives, Negatives, and Investment summary   

1.3 Top 10 shareholders:

The top 10 shareholders together form ~29.01% of the total shareholding, signifying concentrated shareholding. The Vanguard Group, Inc. and BlackRock Institutional Trust Company, N.A. are the biggest shareholders, holding the maximum stake in the company at ~8.66% and ~4.12%, respectively.

1.4 Key Metrics:

Deposit-Led Growth Driving Net Interest Income and Bottom-Line Recovery

The chart reflects a structural transformation in SoFi’s earnings profile over FY21–FY25, marked by accelerating net interest income, recovering non-interest income, and a decisive shift to sustained profitability. The sharp rise in net interest income is driven by rapid expansion of interest-earning assets, particularly personal loans, alongside strong deposit growth that improved funding efficiency and supported margin expansion in a higher-rate environment. Non-interest income volatility in FY23—largely linked to macro pressures and Technology Platform account attrition—was followed by stabilization and recovery as Financial Services scaled and cross-selling deepened. The inflection in net income in FY24 underscores operating leverage from revenue scale and cost discipline, while the slight moderation in FY25 reflects normalization effects, including tax expense and continued reinvestment for growth. Overall, the trend highlights SoFi’s evolution from an investment-heavy growth phase to a more scalable, deposit-funded, and structurally profitable digital banking platform.

Section 2: Business Updates and Financial Highlights

2.1 Recent Updates:

The below picture gives an overview of the recent updates:

 2.2 Insights of FY25:

Section 3: Key Risks and Outlook:

Section 4: Stock Recommendation Summary:

4.1 Technical Summary:

 Price Performance:

• The stock previously exhibited a strong uptrend through mid-2025, forming consistent higher highs and higher lows before peaking near the USD 30–32 range.
• Momentum weakened in late Q4 2025, leading to a structural shift into a downtrend characterized by lower highs and lower lows.
• Price has broken decisively below both the 20-day (USD 20.91) and 50-day (USD 24.40) moving averages, which are now sloping downward, confirming short- to medium-term bearish momentum.
• The 20-day moving average has crossed below the 50-day moving average, reinforcing negative trend alignment.
• RSI is near 23–24, indicating oversold conditions and suggesting potential for a short-term technical bounce, though not yet a confirmed reversal.
• Volume spikes during declines indicate elevated selling pressure during the corrective phase.

4.2 Fundamental Valuation

Valuation Methodology: Price/Book Multiple Based Relative Valuation

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is February 24, 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.