Needham lowered the firm’s price target on SoFi Technologies (SOFI) to $33 from $36 and keeps a Buy rating on the shares. The company reported Q4 results that beat Street estimates on the top and bottom line, with core on-balance-sheet lending that continues to grow and perform well, while its capital-light loan platform business continues to scale faster than anticipated as management continues to prioritize capital-light and high-margin growth areas within FinTech, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SOFI:
- SoFi Technologies price target lowered to $24 from $25 at TD Cowen
- SoFi Stock Forecast: Trending Hold But Bullish Outlier
- SoFi Stock Slides after Earnings, but Mizuho Says ‘Buy on Weakness’
- SoFi Technologies price target lowered to $24.50 from $27.50 at UBS
- Balanced View on SoFi: Solid Execution and Growth Outlook Tempered by One-Time Benefits and Full Valuation Driving Hold Rating