SoFi Technologies, Inc. (SOFI) has been the subject of lively discussions on Reddit, particularly following J.P. Morgan's decision to raise its price target for the company from $9 to $16. This adjustment reflects a positive outlook for the fintech sector in 2025, driven by anticipated lower interest rates and improved access to funding. However, J.P. Morgan maintained a Neutral rating on SoFi, citing concerns over its accounting methodology, which could limit near-term stock upside. Despite this, the bank acknowledged SoFi's strong market positioning and potential to become a major player in the digital banking space.
Reddit users have been actively discussing the implications of J.P. Morgan's revised price target. One user noted, "So this guy thinks SoFi will one day dominate FinTech…and he’s neutral on the stock? Am I missing something here?" Another user speculated that J.P. Morgan might be looking to acquire more shares at a lower price, stating, "Maybe they want more, but don't want to pay more than 16 right now." The community also highlighted the bank's significant shareholding in SoFi, with one user pointing out, "Just putting it out there, JP Morgan owns 7.5 million shares."
In addition to the price target news, discussions have also touched on SoFi's recent changes in annual percentage yield (APY) rates, with some users expressing frustration over the adjustments. Despite these mixed sentiments, SoFi's stock is currently trading at $15.82, reflecting a slight decrease of 0.57% from the previous close.