Why SoFi Stock Tumbled by Over 8% on Thursday
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SoFi Technologies (SOFI) shares fell over 8% on the first trading day of 2025, significantly underperforming the S&P 500's 0.2% decline. The drop followed a downgrade by analyst Timothy Switzer from Keefe, Bruyette & Woods, who changed his rating from market perform to underperform and lowered the price target from $8 to $7. Switzer cited overvaluation concerns after SoFi's 57% price increase in 2024, driven by investor optimism and favorable economic conditions. Despite this, some analysts remain bullish on SoFi's long-term prospects, viewing it as a potential buy.
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