Fintech Stocks like Affirm, SoFi Tech, Marqeta and Others Are Moving Today - Here's Why
Portfolio Pulse from Akanksha Bakshi
BTIG initiated coverage on several fintech stocks, resulting in surges for SoFi, Upstart, PayPal, Opurton Financial, and Jack Henry & Associates, while Affirm, Block, Marqeta, Open Lending, and Green Dot stocks fell. The firm gave Buy ratings to SoFi, Jack Henry & Associates, Upstart, PayPal, and Oportun Financial, Neutral ratings to Marqeta, Open Lending, Green Dot, and Block, and a Sell rating to Affirm.
June 14, 2023 | 3:42 pm
News sentiment analysis
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NEGATIVE IMPACT
BTIG initiated coverage on Affirm Holdings with a Sell rating and a Price Target of $10.
The Sell rating and Price Target of $10 for Affirm Holdings from BTIG indicate a negative outlook for the stock. This bearish sentiment is likely to have a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
BTIG analyst Mark Palmer initiated coverage on Green Dot with a Neutral rating.
The Neutral rating for Green Dot from BTIG analyst Mark Palmer suggests a neutral outlook for the stock. This rating is likely to have a limited short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
BTIG initiated coverage on Open Lending with a Neutral rating.
The Neutral rating for Open Lending from BTIG suggests a neutral outlook for the stock. This rating is likely to have a limited short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Marqeta received a Neutral rating from BTIG, with the analyst claiming that the company has become a single-issue stock due to the impending contract renewal from the Block partnership.
The Neutral rating for Marqeta from BTIG suggests a neutral outlook for the stock. The analyst's concerns over the Block partnership contract renewal may limit the short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Mark Palmer assumed coverage of Block with a Neutral rating.
The Neutral rating for Block from BTIG analyst Mark Palmer suggests a neutral outlook for the stock. This rating is likely to have a limited short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
BTIG initiated coverage on Jack Henry & Associates with a Buy rating and a Price Target of $183.
The Buy rating and Price Target of $183 for Jack Henry & Associates from BTIG indicate a positive outlook for the stock. This bullish sentiment is likely to have a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BTIG initiated coverage on Oportun Financial with a Buy rating and a Price Target of $7.
The Buy rating and Price Target of $7 for Oportun Financial from BTIG suggest a positive outlook for the stock. This bullish sentiment is likely to have a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BTIG initiated coverage on PayPal Holdings with a Buy rating and a Price Target of $85.
BTIG's Buy rating and Price Target of $85 for PayPal Holdings indicate a positive outlook for the stock. This bullish sentiment is likely to have a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BTIG initiated coverage on SoFi Technologies with a Buy rating and a Price Target of $14, stating that the company has emerged as a leader in the consumer-focused fintech space.
BTIG's Buy rating and Price Target of $14 for SoFi Technologies indicate a positive outlook for the stock. The analyst's view of SoFi as a leader in the consumer-focused fintech space and the potential for GAAP profitability by the end of FY23 support this bullish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BTIG initiated coverage on Upstart Holdings with a Buy rating and a Price Target of $42.
The Buy rating and Price Target of $42 for Upstart Holdings from BTIG suggest a positive outlook for the stock. This bullish sentiment is likely to have a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100