SoFi Technologies gets a fresh Buy and $20 target from Monness Crespi
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A fresh Buy and a $20 target put a new floor under the bull case, with the analyst pinning it on BNPL and neobanks taking a bigger slice of consumer spending and lending.
SoFi Technologies $SOFI initiated with a Buy at Monness Crespi Monness Crespi initiated coverage of SoFi Technologies with a Buy rating and $20 price target. The BNPL share of spending and neobanks' share as a portion of spending and lending have risen meaningfully over the https://t.co/MRdPen2GZM
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Monness Crespi initiated coverage of SoFi Technologies with a Buy rating and a $20 price target, giving the stock a new institutional stamp of approval from a firm coming in with a constructive view from the very first note.
The analyst's thesis rests on structural shifts in consumer finance: buy now, pay later's share of spending and neobanks' share of both spending and lending have risen meaningfully, and SoFi is positioned squarely in the path of both trends.
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A fresh initiation at Buy carries particular weight because it signals a firm has done its foundational work and is comfortable staking out a public position on the stock.
The $20 price target gives bulls a concrete upside marker as SoFi grows its lending and financial-services businesses while neobanks gain ground on traditional lenders.
Mentioned: SOFI