SoFi Technologies price target raised to $8 from $6 at Wedbush

Wedbush analyst David Chiaverini raised the firm’s price target on SoFi Technologies to $8 from $6 and keeps an Outperform rating on the shares after the company reported "a solid quarter" despite continuing pressure on originations. 2023 guidance was modestly below the firm’s prior expectations, but ahead of buyside expectations, noted Wedbush, which adds that acceleration of GAAP profitability "helps our out-year forecasts."