Bearish
SoFi Technologies (SOFI) stock drops 5.8% after Morgan Stanley cuts price target to $15.
SoFi Technologies' stock declined by 5.8% following Morgan Stanley's reduction of its price target from $16 to $15, maintaining an Underweight rating. Despite reporting strong Q2 revenue, the firm expressed concerns over the company's growth becoming more capital-intensive, potentially impacting long-term returns.
Key points
- Morgan Stanley lowers SoFi's price target to $15, citing increased capital intensity.
- SoFi's Q2 revenue beat expectations, but full-year profit guidance remains unchanged.
- Insider activity shows $11.9M net selling over the past year.
Sources
AI-generated from public news sources. Not financial advice.
