After meeting with SoFi Technologies, Inc (NASDAQ: SOFI) CFO at the firm's Annual Software Summit, Mizuho analyst Dan Dolev reiterated a Buy rating and $8 price target.
Also Read: Analyst Upgrades SoFi Technologies, Says Potential Student Loan Refinancing Boom Is Coming
He was encouraged to learn more about the resiliency of its high-FICO borrowers; hedging measures; low loan losses and delinquency rates; Galileo's unique transaction-based pricing model offering protection against a weaker economy; renewed opportunities in student loan refinancing despite recent debt forgiveness; and, the expected roll-off of the PSU SBC burden in 1Q 2024.
Overall, he continues to believe in SOFI's resilient business model & strong execution.
Price Action: SOFI shares traded lower by 6.76% at $4.89 on the last check Thursday.
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