Barclays cuts SoFi price target to $18 ahead of Q1 results

Barclays slashed SoFi's price target to $18 from $28 ahead of Q1 earnings, citing a murky economic outlook that weighs on fintech valuations. The bank maintained an 'Equal Weight' rating. Analysts project first-quarter revenue of $1.05 billion and EPS of $0.12, though the new target still implies a 20% upside.