Needham analyst Kyle Peterson lowered the firm’s price target on SoFi Technologies (SOFI) to $25 from $33 and keeps a Buy rating on the shares. The company’s revenue topped estimates but shares sold off due to softer-than-expected tech product revenue as one of its large customers completed a transition away at the end of FY25, the analyst tells investors in a research note. The transition was previously communicated, but the headwind was larger than most expected, the firm added.
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