SoFi: Hitting Bottom Again

SoFi saw the following 2 price target cuts on July 9th: KBW lowered PT from $7.50 to $7.00 Barclays lowered PT from $10.00 to $8.00 Ironically, the stock hit a low of $6.15 and immediately started trading up. KBW was adamant that SoFi is facing higher loan defaults, leading to the decision to cut the price target to only $7. The analyst firm thinks SoFi faces a steep rise in NCOs leading to cumulative losses over the life of the loans higher than the 7% to 8% targeted my management. Back at the Mizuho Techn ...