Reported 2 days ago
SoFi Technologies' stock plunged 6% after KBW downgraded its rating due to concerns over the company's high valuation and ambitious financial goals. Analysts set a price target of $8, nearly half of the stock's recent closing price, highlighting the hurdles SoFi faces as it transitions into a mature financial services provider. The downgrade follows a significant rally in SoFi's shares, which had nearly doubled since October, reflecting growing caution in the fintech sector.
Source: YAHOO