"Buy SoFi Technologies Stock, Analysts Say, As The 'Banking Industry Fragments'" - Barron's
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analysts have maintained a Buy rating and $11 price target on SoFi Technologies, raising their estimates for revenue and earnings for Q2, 2023, and 2024. They believe SoFi will benefit from the fragmentation of the banking industry and the shift to digital platforms. However, Morgan Stanley analysts downgraded SoFi shares to Underweight from Equal Weight, but raised the stock's price target to $7 from $6.50. SoFi is set to report Q2 earnings on July 31.
July 14, 2023 | 3:25 pm
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Truist Securities analysts have maintained a Buy rating on SoFi, raising their revenue and earnings estimates. However, Morgan Stanley analysts have downgraded SoFi shares, but raised the price target.
The news is directly related to SoFi and contains mixed analyst ratings. While Truist Securities is bullish on SoFi, raising their revenue and earnings estimates, Morgan Stanley has downgraded the shares. However, both have raised their price targets, indicating a positive outlook in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100