SoFi Technologies (SOFI) PT Lowered to $11 at Deutsche Bank

Deutsche Bank analyst Mark DeVries lowered the price target on SoFi Technologies (NASDAQ: SOFI) to $11.00 (from $12.00) while maintaining a Hold rating.

The analyst comments "We do view the shares as fundamentally undervalued, but given the volatility of the stock and how poor sentiment has been, we believe we could just as easily see the shares trade meaningfully lower in the near-term than higher. We also struggle to see a catalyst for the shares to re-rate to the 18.5x P/E that seems warranted by the comps, so we view the risk-reward as relatively balanced for now and maintain our Hold rating."

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