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Why Shares of SoFi Are Rising Today

TheMotleyFool

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Why Shares of SoFi Are Rising TodayPhoto, wide shot, wide-angle lens, Private equity firm, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/6a5872d8-cc25-46f8-b436-bf3db1953908.png

Shares of digital bank and one-stop shop financial services company SoFi Technologies (NASDAQ: SOFI) traded roughly 3.3% higher today as of 2:53 p.m. ET after receiving an upgrade from Wall Street.

Bank of America analyst Mihir Bhatia upgraded SoFi from a neutral rating to a buy rating and raised the stock's price target from $8 per share to $9. The stock currently trades at just over $6 per share.

Bhatia sees an attractive risk-reward proposition right now and expects SoFi to benefit from the expiration of the student loan moratorium at the end of the year.

Source Fool.com

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