This Analyst Is Dead Wrong About SoFi. Here's Why.

Shares of SoFi Technologies (SOFI -3.66%) started 2024 on a rough note, falling more than 16% last week after Keefe, Bruyette & Woods (KBW) analyst Mike Perito downgraded shares of the banking and fintech services company. More specifically, Perito reduced his rating on SoFi to underperform from market perform, and lowered his per-share price target to $6.50 from $7.50. Shares closed around $8.53 on Monday. To be fair, SoFi had also just doubled over the previous year, including a more than 40% rally follow ...