Keefe, Bruyette & Woods Reiterates Market Perform Rating on SoFi Technologies (SOFI)

Keefe, Bruyette & Woods analyst Timothy Switzer reiterated a Market Perform rating and $7.50 price target on SoFi Technologies (NASDAQ: SOFI).

The analyst commented, "The loan securitization provides another data point indicating that the secondary market is beginning to improve for personal loan sales. After selling only $125M of personal loans from 4Q22-3Q23, SOFI sold $873M in 4Q23 and $1.26B in 1Q24. Although the overall sales are still not very significant compared to the $15.1B of outstanding balances (and growing), improved sale activity should help moderate capital consumption and lower on-balance sheet credit risk."

For an analyst ratings summary and ratings history on SoFi Technologies click here. For more ratings news on SoFi Technologies click here.

Shares of SoFi Technologies closed at $7.19 yesterday.

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