SoFi shares are trading lower after Keefe, Bruyette & Woods downgraded the stock from Market Perform to Underperform.
Portfolio Pulse from Benzinga Newsdesk
SoFi Technologies, Inc. shares have declined following a downgrade by Keefe, Bruyette & Woods from 'Market Perform' to 'Underperform'.
January 03, 2024 | 12:53 pm
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NEGATIVE IMPACT
SoFi Technologies, Inc. stock price is likely to experience downward pressure in the short term due to the downgrade by Keefe, Bruyette & Woods.
Analyst downgrades typically lead to a negative perception among investors and can result in a short-term decline in the stock price. Given that Keefe, Bruyette & Woods is a reputable firm, their downgrade from 'Market Perform' to 'Underperform' is likely to be taken seriously by the market, leading to a decrease in investor confidence and a potential sell-off of SoFi shares.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100