Jefferies raised the firm’s price target on SoFi Technologies (SOFI) to $13 from $12 and keeps a Buy rating on the shares. Q3 results beat consensus, driven by higher origination, net interest income, and non-interest revenue from the new loan platform, while FY24 guidance was raised more than the Q3 beat, the analyst tells investors. SoFi is “well-positioned for a rate cut environment,” the analyst added in a post-earnings note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SOFI:
- McDonald’s, Ford, Pfizer report Q3 earnings beats: Morning Buzz
- SoFi bears ‘confused,’ ‘time to buy,’ says Mizuho
- Morning Movers: McDonald’s lower, Pfizer higher after earnings releases
- SOFI Earnings: SoFi’s Q3 Earnings Beat Estimates, Guidance Raised
- Options Volatility and Implied Earnings Moves Today, October 29, 2024