SoFi Lands Upgrade After Strong Earnings Report

A strong third-quarter earnings report from SoFi Technologies prompted one analyst team to boost its rating on the fintech.The stock had risen 8% to $7.50 on Tuesday afternoon, putting it on track for its largest percent increase since July 31, when it gained 20%, according to Dow Jones Market Data. This year, shares have soared 63%.

With shares now trading closer to their price target of $7, there is “a more balanced risk-reward skew,” the Morgan Stanley team noted. They highlighted multiple positives, including a better-than-expected income growth forecast for next quarter, strong student loan origination numbers in the third quarter, and nonlending segments “set to reaccelerate into 2024 as Lending revenues slow.”

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

SoFi Will Post Earnings Monday. What to Expect.The fintech reports its earnings before the start of trading. The stock has had a fantastic year.
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

GM, Disney, Alphabet, Western Digital, SoFi, Apple, and More Stock Market MoversThe United Auto Workers union announces a strike at another General Motors plant, Nelson Peltz's push for board seats at Disney gets a boost, and results...
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

SoFi's stock pops after earnings as loan volumes surgeStudent-lending originations doubled in the third quarter
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

Stocks making the biggest moves premarket: McDonald's, SoFi, Invitation Homes and moreThese are the stocks posting the largest moves in premarket trading.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »