Why Sofi Shares Are Trading Lower Friday
Portfolio Pulse from Erica Kollmann
SoFi Technologies shares are trading lower after Compass Point initiated coverage with a Sell rating and a $5 price target. Analyst Giuliano Bologna cited capital constraints for future growth and concerns over fair value accounting treatment creating a margin overhang. Bologna also believes the recent rally in SoFi shares may be overdone.
June 23, 2023 | 4:11 pm
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SoFi shares are trading lower due to Compass Point's Sell rating and $5 price target, citing concerns over capital constraints and margin overhang.
The Sell rating and $5 price target from Compass Point are likely to negatively impact SoFi's stock price in the short term. The concerns raised by the analyst regarding capital constraints and margin overhang issues may cause investors to reevaluate their positions in the stock.
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