Piper Sandler analyst Patrick Moley initiated coverage of U.S. fintech company SoFi Technologies with an "Overweight" rating and a 12-month price target of $22, projecting its stock price could reach $36 within the next five years, representing an increase of over 100% from current levels. SoFi's stock has fallen over 31% year-to-date, and despite reporting recent quarterly revenue of $1.2 billion, a 40% year-over-year increase, and raising its full-year revenue guidance to $4.75 billion-$4.85 billion, it did not raise its earnings guidance, leaving the market with lingering doubts about its earnings growth potential.