UPDATE: Rosenblatt Starts SoFi Technologies (SOFI) at Buy

June 15, 2021 4:22 PM EDT
Get Alerts SOFI Hot Sheet
Price: $15.44 -1.03%

Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - June 15, 2021 4:23 PM EDT)

Rosenblatt analyst Sean Horgan initiates coverage on SoFi Technologies (NASDAQ: SOFI) with a Buy rating and a price target of $30.00.

The analyst commented, "The incumbent legacy banks face a challenging road ahead as a new wave of digitally native and mobile-first banks rush into the market. Challenger banks like SoFi command a powerful cost advantage over incumbents which will lead to dramatic disintermediation over the next 5-10 years, leaving substantial primary bank accounts, revenues, and market value up for grabs. As they mature, competition and consolidation are likely to follow. But for now, challenger banks face a “jump ball” opportunity to seize market share from the old guard... and SOFI is well-positioned to capture a significant amount of the value hanging in the balance."

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 $21.82 yesterday.



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