- The stock price of SoFi Technologies Inc (NASDAQ: SOFI) increased by over 6% today. This is why it happened.
The stock price of SoFi Technologies Inc (NASDAQ: SOFI) increased by over 6% today. Investors appear to be responding positively to a bullish research report.
Mizuho analyst Dan Dolev had initiated coverage of SoFi with a “Buy” rating and $28 price target. The $28 price target represented more than a 93% upside to the previous close.
Dolev noted that SoFi is considered a one-stop-shop digital financial services company that is in the midst of a “powerful transition to a full-fledged mobile-first, super-app neo-bank.” And Dolev wrote that this could accelerate a virtuous cycle of increased engagement while boosting revenue and profits. Going forward, Dolev sees a path to 40% sales growth by 2025.
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