SoFi bears ‘confused,’ ‘time to buy,’ says Mizuho

Mizuho notes that SoFi Technologies (SOFI) shares are trading down 9% “despite a stellar quarter” and believes “bears are confused, as worries are unmerited.” SoFi is expanding its lending capabilities via its loan platform business to address concerns that it would not be able to grow due to capital constraints, the analyst tells investors. The firm, which reiterates its view that any worries about a capital raise are “unmerited” as SoFi’s total capital ratio should be above 16% at the end of the year, maintains an Outperform rating and $1 price target on the shares.