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Truist cuts SoFi price target to $17, citing weaker loan sales and tech platform demand

Analyst Insights
12 May 2026
24/7 Wall Street
View Source
Bearish
pluang ai news

Truist analyst Matthew Coad lowered SoFi Technologies' price target from $20 to $17 following Q1 2026 results, maintaining a Hold rating. The downgrade reflects reduced revenue expectations due to softer loan platform sales and declining demand for SoFi's Galileo technology platform. Despite strong member growth and solid Q1 earnings, SoFi's stock has fallen 40% year-to-date, pressured by challenges in its diversifying business lines. Investors are advised to watch Q2 results closely to see if the slowdown continues or reverses.

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