SoFi Stock Is Headed Higher, Says Goldman Sachs: Q3 Earnings First Take
Portfolio Pulse from Surbhi Jain
Goldman Sachs has given a bullish outlook on SoFi Technologies, Inc (NASDAQ:SOFI) following the company's Q3 earnings report. The bank highlighted SoFi's revenue, origination, contribution profit and EBITDA beat, and noted better than expected student loan refinancing demand. Goldman Sachs analyst Michael Ng rates the stock Neutral with a 12-month price target of $7. The bank expects SoFi's platform to strengthen due to upbeat student loan refinancing numbers and SoFi’s deposit and member growth.
October 30, 2023 | 7:25 pm
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Goldman Sachs has given a bullish outlook on SoFi following its Q3 earnings report. The bank highlighted SoFi's revenue, origination, contribution profit and EBITDA beat, and noted better than expected student loan refinancing demand. The bank expects SoFi's platform to strengthen due to upbeat student loan refinancing numbers and SoFi’s deposit and member growth.
The bullish outlook from Goldman Sachs, a major investment bank, is likely to boost investor confidence in SoFi. The bank's positive comments on SoFi's Q3 earnings, particularly its revenue, origination, contribution profit and EBITDA beat, as well as better than expected student loan refinancing demand, are positive indicators for the company's performance. Furthermore, the bank's expectation of SoFi's platform strengthening due to upbeat student loan refinancing numbers and SoFi’s deposit and member growth could signal potential future growth for the company.
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