What's Going On With SoFi Technologies Stock Thursday?

SoFi Technologies Inc SOFI shares are moving higher. The company on Thursday announced a personal loan securitization agreement with a global fixed income manager.

What Happened: SoFi on Thursday announced that it closed on a $525 million personal loan securitization agreement in the fourth quarter with funds and accounts managed by PGIM Fixed Income.

The transaction comes after PGIM invested $350 million in May 2024, and builds on the $3.9 billion in personal loan collateral SoFi has sold or securitized to date.

“The investor demand we see for SoFi’s personal loans underscores the quality and strength of our lending business, which continues to contribute meaningfully to our durable growth. We are grateful for PGIM’s longstanding partnership as we help more of our members get their money right,” said Anthony Noto, CEO of SoFi.

See Also: Warner Bros. Discovery Adds Anthony Noto, Joey Levin To Board, Shares Tick Higher

Is SOFI A Good Stock To Buy?

Wall Street analysts view SoFi on the whole as a Neutral, given the history of coverage over the past three months. Reginald Smith from JPMorgan is the most optimistic, expecting a 77.78% rise in the stock over the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, SoFi shares rose 55.21%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 29.91% over the past year.

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SOFI Price Action: SoFi shares were up 4.37% at $16.19 at the time of publication Thursday, according to Benzinga Pro.

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