Online Finance Stock Pops on Fresh Mizuho Coverage

Year-to-date, SOFI sports a 21% lead

Digital Content Manager
Sep 15, 2021 at 10:41 AM
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The shares of SoFi Technologies Inc (NASDAQ:SOFI) are up 4.1% to trade at $15.09 at last check, after Mizuho initiated coverage on the online personal finance name with a "buy" rating and a $28 price target, which is a 93% premium to the stock's last close. The analyst in question sees the company increasing engagement and boosting revenue as well as profits, with a clear path to 40% sales compound annual growth rate by 2025.

The firm is joining two other analysts that call SoFi Technologies stock a "strong buy." Plus, the 12-month consensus target price of $23.17 is a 54.2% premium to current levels. 

The equity has had a volatile run on the charts since going public in December. Before finding a recent floor at the $13.50-$14 level, the shares rallied to $24 in June, after a cool down period from their Feb. 1 record of $28.26. The 50-day moving average has been keeping a tight lid on the security since July, though, despite its 21% year-to-date lead.

Calls have largely outpaced puts in the options pits so far today. In the past two months,  610,327 calls and 93,892 puts have crossed the tape. That sentiment was echoed over the last two weeks as well, with 107,059 calls exchanged, as opposed to 17,771 puts.

 

 

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