Most builds online seem pretty terrible to me. Almost all of them stack HP and build her as a tank, which is pretty damn stupid if you ask me.
To quote myself from another topic awhile back: "The most important things for Soraka are: CDR>AP>MS=Utility=Mana>Resistances=Flat HP regen >>>>>>>>>>>>>>>>>> HP=percentage-based HP regen". You can consider CDR and AP for Soraka the equivalent of AS and AD for marksmen, she's very much like a reverse glass cannon. As such, make sure you properly position at the backline when you're playing her. In fact, often times you might need to "compensate" by moving further away in case you foresee an enemy popping up from a bad spot.
Formation is very important for her, because as soon as formation is broken or there's an opening of some sort (like an assassin coming in from an unwarded jungle while your team is in front of you), she's an easy target. Stick with exhaust, and max her W first. Lastly, map awareness is pretty essential for her proper usage of her ult. Proper usage of her ult gets her a lot of assists, and a lot of assists means a lot of gold.
I recommend you get Spellthief's on her, but Coin is also okay. As for her other items (besides sightstone), consider these:
- Boots of Swiftness - Alacrity (or CDR boots if you're not getting enough CDR from runes/masteries/items to max it, but I really recommend Swiftness)
- Tear -> Archangel's (take the Strength of Spirit mastery if you build this)
- Twin Shadows
- Zhonya's Hourglass
- Rabadon's Deathcap
- Banner of Command (I highly, highly recommend this over Locket)
- Morellonomicon
- Guardian Angel (as a last item maybe)
- Mikael's Crucible (depending on the match up)
She doesn't need two mana items though, so probably pick between Archangel's (what I prefer), Morellonomicon, or Mikael's (Mikael's is situational to me). Whether you upgrade Frostfang into Frost Queen's Claim is up to you; I just sell it eventually, but it's certainly not a bad item for her, and Frost Queen's active really helps for getting people stuck in Equinox (Twin Shadows can also be used for that reason).
Avoid Warmog's. The item makes absolutely 0 sense on Soraka statistically, and the out-of-combat health regeneration will cancel out as soon as you do damage with Starcall or Equinox. Why so many Soraka players build this is beyond me. I wouldn't get Righteous Glory on her either (if you really want a mobility active just get Shurelia's/Talisman). The only time it's okay to build HP on her is if the item provides utility you can't live without (sightstone), or if the item doesn't give that much HP and the other stats it gives are pretty good for her (Banner of Command).