SOFI - SoFi Stock Is Sliding Wednesday: What's Going On? | Benzinga
SoFi Technologies Inc (NASDAQ: SOFI) shares are trading lower Wednesday following an analyst downgrade from Keefe, Bruyette & Woods.
What Happened: Keefe, Bruyette & Woods analyst Michael Perito downgraded SoFi from a Market Perform rating to an Underperform rating and lowered the price target from $7.50 to $6.50, citing recent outperformance and a change in the analyst's model.
Perito noted that the firm's updated 2024 revenue and EBITDA expectations are well below Street estimates, largely due to slower origination growth and technology revenues.
"SOFI's shares remain heavily debated, ...