SoFi Technologies price target raised to $29 from $25 at Needham

Needham raised the firm’s price target on SoFi Technologies (SOFI) to $29 from $25 and keeps a Buy rating on the shares. The firm is updating its model to reflect the publication of Volume 5 of the Needham digital lending funding tracker, which shows that funding availability and costs are heading in the right direction, and which Needham expects to support incrementally stronger growth in the lending business, especially if rate cuts come to fruition later this year, the analyst tells investors in a research note.