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Wajeeh Khan

SoFi Just Scored a New 'Buy' Rating. What It Means for SOFI Stock.

SOFI Piper Sandler Patrick Moley SoFi Technologies

SoFi Technologies (SOFI) shares opened comfortably in the green on Monday morning after a senior Piper Sandler analyst initiated coverage on the digital financial services company. In his research note, Patrick Moley assigned SOFI an “Overweight” rating and set a $22 price objective, indicating potential upside of more than 20% over the next 12 months.

Moley’s bullish call is particularly significant given SOFI stock has already rallied sharply since late July.

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