“How people pay is undergoing a massive transformation,” said Paul Williamson, head of revenue and partnerships at Plaid.
The hardest part of consumer finance, according to Morgan Stanley’s Betsy Graseck, is lending. Outlining the bullish case for SoFi Technologies (SOFI), the company being a specialist in this specific segment is a major differentiator. “SoFi is unique,” says Graseck. “It is a challenger consumer finance company that is leading with lending; specifically refinancing a high yield student loan into a lower rate.” Lending is particularly difficult as it requires understanding of credit and demands a
Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have gained as much as 20% in October following a series of analyst upgrades and recommendations. Morgan Stanley analyst Betsy Graseck initiated coverage with a $25 price target, saying the company is “a powerful revenue growth story as it ramps share of the consumer financial services.” In September, Jeffries and Mizuho Securities also initiated coverage with price targets of $25 and $28 respectively.