Piper Sandler analyst Kevin Barker lowered the firm’s price target on SoFi Technologies to $8.50 from $9 and keeps a Neutral rating on the shares following issuance of the quarterly SEC filing and recent commentary from management. The analyst expects SoFi to see a sizable increase in spread income due to a much larger asset base than fiscal 2023, but says these tailwinds will be offset by a $400M headwind from higher NCOs and premium amortization on the personal loan portfolio.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SOFI:
- Notable open interest changes for November 17th
- SoFi ‘confirms fears’ of loss sharing component to recent deals, says Wedbush
- Can SoFi (NASDAQ:SOFI) Stock Hit $15 in One Year?
- Affirm (NASDAQ:AFRM) Stock: Are High Interest Rates a Blessing in Disguise?
- SoFi Technologies initiated with an Equal Weight at Barclays
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue