Why SoFi Stock Was a Rare Fintech Winner Today
Thursday was generally an awful day to be a fintech stock investor, unless you were an investor in SoFi Technologies (NASDAQ: SOFI). The company was insulated from negative sentiment in its industry following a scathing report from a short seller about a peer.
The insulation came from an analyst who reiterated his unequivocal buy recommendation on SoFi stock. Thanks to that little blast of bullishness, the company's shares closed the day nearly 4% higher.
The bull was well-known Mizuho Securities prognosticator Dan Dolev, who published a fresh update on SoFi Thursday morning after a dinner meeting with top managers and investor relations executives. In the update, Dolev reiterated his buy recommendation on the stock and his $9 per share price target. That level implies a robust 56% upside to the market price.
Source Fool.com
