1 Wall Street Analyst Raises SoFi Technologies Stock's Price Target by 15%. Here's Why He's Right
SoFi Technologies (NASDAQ: SOFI) spooked investors last month when it announced plans to sell $750 million in convertible debt, mere weeks after reporting a blowout Q4 earnings report. Predictably, SoFi's stock price fell on news of the big offering -- down 15% in a day. But in the month since, SoFi's share price has held pretty steady.
And now, one Wall Street analyst thinks it's safe to own SoFi again.
On Thursday, Keefe, Bruyette & Woods analyst Timothy Switzer raised his price target on SoFi stock by 15%, to $7.50 per share. Granted, that's not much more than the stock already cost -- which is why Switzer only upgraded the stock to "market perform," stopping short of saying "buy."
Source Fool.com
