BTIG analyst Vincent Caintic has maintained their neutral stance on SOFI stock, giving a Hold rating on July 22.
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Vincent Caintic has given his Hold rating due to a combination of factors surrounding SoFi Technologies’ current market position and growth potential. The recent increase in SoFi’s stock price reflects optimism about the company’s investment platform, particularly with its new capabilities in cryptocurrencies. However, there are uncertainties about SoFi’s ability to compete directly with established players like Robinhood, given the significant difference in their customer bases.
While the potential for growth in SoFi’s Invest segment is acknowledged, with projections indicating that each million new users could significantly boost annual earnings per share, the actual realization of this growth remains uncertain. The analyst is cautious about how much market share SoFi can realistically capture and how this aligns with the company’s future earnings projections. As a result, the Hold rating reflects a balanced view of potential growth opportunities against competitive challenges.
In another report released on July 22, Truist Financial also maintained a Hold rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SOFI in relation to earlier this year.