Why SoFi Technologies Shares Are Trading Lower By Around 13%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
SoFi Technologies, Inc. (SOFI) shares dropped by approximately 13% after Keefe, Bruyette & Woods downgraded the stock from Market Perform to Underperform and reduced the price target from $7.50 to $6.50. The downgrade was based on recent outperformance and changes in the analyst's model. Other stocks experienced significant movements in Wednesday's mid-day session, with various companies reporting gains due to positive developments such as regulatory approvals, partnership announcements, and favorable analyst ratings. Conversely, some stocks saw declines due to negative news such as poor earnings, strategic setbacks, or unfavorable analyst actions.
January 03, 2024 | 5:58 pm
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SoFi Technologies' stock fell sharply after an analyst downgrade from Keefe, Bruyette & Woods, which also lowered the price target from $7.50 to $6.50.
Analyst downgrades typically have a negative impact on stock prices in the short term as they suggest a less favorable outlook for the company's financial performance or valuation.
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IMPORTANCE 90
RELEVANCE 100