SoFi Is A 'Long-Term Winner' In Digital Lending, Neobank Space: Bullish Analyst
Portfolio Pulse from Priya Nigam
SoFi Technologies Inc (NASDAQ:SOFI) has been highlighted as a 'long-term winner' in the digital lending and neobank space by Needham analyst Kyle Peterson, who initiated coverage with a Buy rating and a $10 price target. The company's focus on prime borrowers and its full banking license, acquired through the purchase of Golden Pacific in 2022, are seen as key advantages. Shares of SoFi rose 3.82% to $7.48 following the announcement.
April 03, 2024 | 5:55 pm
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SoFi Technologies Inc receives a Buy rating and a $10 price target from Needham analyst Kyle Peterson, highlighting its potential as a long-term winner in the digital lending and neobank sector.
The positive analyst coverage from Needham, focusing on SoFi's strategic positioning in the digital lending and neobank space, its focus on prime borrowers, and the acquisition of a full banking license, are likely to instill confidence among investors. This, combined with the immediate positive reaction in stock price, suggests a bullish short-term outlook for SOFI.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100