SoFi falls as KBW turns bearish after stock's recent run
** Shares of SoFi Technologies SOFI.O drop 4.1% to $9.26 premarket
** KBW downgrades stock to "underperform" from "market perform", cuts PT to $6.50 from $7.50
** Brokerage says it has updated 2024 revenue and EBITDA forecasts for SOFI to $2,299/$493 mln, ~10%/17% below Street expectations, respectively, largely due to slower origination growth and technology revenue
** Notes stock's recent rally since Fed's Dec meeting that cemented bets of rate cuts in 2024
** Stock jumped 36.5% in Dec after four consecutive months of declines
** "SOFI's shares remain polarizing, but noise aside, anytime a growth stock is trading at premium valuations with 15-20% downside potential to consensus EBITDA, we believe a more cautious stance is appropriate" - KBW analyst Mike Perito
** Perito is rated 4 out of 5 stars for his recommendation accuracy on SOFI - LSEG
** Avg rating of 18 brokerages covering stock is "hold"; median PT $8.50 - LSEG
** Stock hit 4-month high last week, more than doubled in value in 2023
Reporting by Medha Singh
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