SoFi Technologies (SOFI) Reiterated at Market Perform by Citizens: Feelings Mixed

Citizens analyst Devin Ryan reiterated a Market Perform rating on SoFi Technologies (NASDAQ: SOFI).

The analyst commented, "On the stock, we have mixed feelings. We believe the skeptics have consistently overweighted perceptions of risk, while underestimating the firm's customer acquisition funnel and structural unit economic advantages relative to incumbent financial firms, and how those are critical to the opportunity and SoFi's ability to take market share (which only becomes more powerful at scale and with new products). We believe the company has a right to win in many existing financial services categories by providing more value and a better customer experience all while entering incremental areas that add to the TAM, including in digital assets/tokenization, which we think could drive new business/revenue opportunities. Innovation is often miscalculated by the market, and we expect SoFi to be one of the most innovative in the space in the coming years. In these areas of underappreciation, as the market begins to better understand, typically investment alpha exists."

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 $22.81 yesterday.

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