Piper Sandler Just Cut Its Price Target on SOFI Stock

Shares of SoFi (NASDAQ:SOFI) stock are in focus after Piper Sandler analyst Kevin Barker lowered his price target to $8 from $8.50 while maintaining a “neutral” rating. The analyst made the change after analyzing SoFi’s Form 10-K and management commentary.Barker believes that SOFI stock, trading at around a 14x operating price-to-earnings (P/E) ratio based on expected fiscal year 2025 sales and a 3.4x price-to-sales (P/S) ratio, is fairly valued. Barker is also cautious about SoFi’s lending segment as the c ...