SoFi Technologies price target lowered to $21 from $24.50 at UBS

UBS lowered the firm’s price target on SoFi Technologies (SOFI) to $21 from $24.50 and keeps a Neutral rating on the shares. SoFi Technologies reported a modest revenue and EBITDA beat driven primarily by strength in its Lending segment, though fee-based businesses slowed meaningfully due to a large client transition in its Technology Platform segment, the analyst tells investors in a research note. While full-year guidance was maintained, weaker near-term EBITDA margin expectations and continued dependence on a stable rate environment tempered the otherwise positive operating performance, UBS says.