After SoFi Technologies’ recent run, it’s time to take a back seat, Bank of America says. Analyst Mihir Bhatia downgraded SoFi from buy to neutral, saying optimism around the stock had largely faded. Investors expect the expiration of the moratorium on student loan payments to be positive for stocks. SOFI 1D mountain SoFi Stock 1-Day “SoFi Technologies ( SOFI ) shares are up 100% over the past month, versus a 7% gain in the S & P 500, largely because the debt settlement brought certainty that the moratorium on Federal Student Loan payments will end in September,” Bhatia said. “While we agree that the expiry of the payment moratorium is a positive, we now see the positive underlying aspects of the story as largely valued,” Bhatia added. Despite the downgrade, Bhatia raised his price target on SoFi to $10 from $9.50 a share, about 5% above where the stock closed Thursday at $9.55. Shares of SoFi fell 6.6% in premarket trading on Friday. The analyst said he still expects SoFi to post a profit in its fiscal fourth quarter and continue to attract more members and increase deposit balances. “We also note that SOFI’s 2023 outlook already assumes the moratorium will expire and we do not expect a major earnings revision cycle,” Bhatia said. “Therefore, we view risk and reward as more balanced at current prices and downgrade to neutral.” — CNBC’s Michael Bloom contributed to this report.