Morgan Stanley analyst Jeffrey Adelson maintains $SoFi Technologies (SOFI.US)$ with a sell rating, and adjusts the target price from $6 to $7.5.
According to TipRanks data, the analyst has a success rate of 46.3% and a total average return of -1.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $SoFi Technologies (SOFI.US)$'s main analysts recently are as follows:
SoFi Technologies' recent report showcased an adjusted revenue that surpassed expectations, predominantly fueled by income generated from its loan platform operations. This performance has compensated for a 7% discrepancy in expenses. It's noted that SoFi is increasingly relying on fee-based revenue from its lending services, which is viewed as a beneficial move.
SoFi Technologies' Q3 outcomes surpassed expectations, propelled by an increase in originations, net interest income, and non-interest revenue stemming from the new loan platform. Additionally, the forecast for FY24 was revised upwards, surpassing the Q3 outperformance. The company is considered to be well-situated to thrive in a scenario of declining interest rates.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
