SoFi Technologies shares are trading lower after Piper Sandler downgraded the stock from Overweight to Neutral and raised its price target from $6.5 to $8.
Portfolio Pulse from Benzinga Newsdesk
SoFi Technologies' stock is trading lower after Piper Sandler downgraded it from Overweight to Neutral and increased its price target from $6.5 to $8.
June 16, 2023 | 10:36 am
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NEGATIVE IMPACT
SoFi Technologies' stock price is negatively impacted by Piper Sandler's downgrade from Overweight to Neutral, despite an increased price target from $6.5 to $8.
The downgrade from Overweight to Neutral by Piper Sandler indicates a less optimistic outlook for SoFi Technologies' stock. Although the price target has been raised, the downgrade is likely to have a more significant short-term impact on the stock price, causing it to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100