Why 2 Sofi Analysts Are Dropping Their Bullish Stances: Elevated Interest Rates A Possible 'Incremental Headwind'
Portfolio Pulse from Priya Nigam
Shares of SoFi Technologies Inc (NASDAQ:SOFI) are under pressure after two analysts downgraded their ratings due to concerns about elevated interest rates. Piper Sandler's Kevin Barker and BofA Securities' Mihir Bhatia both downgraded the stock from bullish stances to Neutral, while raising their price targets.
June 16, 2023 | 3:40 pm
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NEGATIVE IMPACT
SoFi Technologies' stock is under pressure after two analysts downgraded their ratings due to concerns about elevated interest rates, potentially impacting the stock price in the short term.
The downgrades by Piper Sandler's Kevin Barker and BofA Securities' Mihir Bhatia are based on concerns about elevated interest rates, which could be an incremental headwind for SoFi Technologies. This negative sentiment from analysts may lead to a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100