SOFI Stock: Why It Increased Today

By Amit Chowdhry ● Sep 15, 2021
  • 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.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.