SoFi Technologies (NASDAQ: SOFI) experienced a significant drop of 9.47% in share price this week, despite beating Q4 earnings estimates with an EPS of 5 cents. Investor sentiment soured following the company's guidance of 25 to 27 cents for annual EPS, disappointing expectations. Before the earnings announcement, the stock gained 9.40% due to positive momentum. Nevertheless, SOFI shares have shown an impressive 110% increase over the past year. Investment analysts have also begun coverage with ratings indicating growth potential, especially after SoFi raised substantial funds through a loan program with PGIM Fixed Income.
Shares of SoFi Technologies drop nearly 10% despite reporting strong Q4 earnings, as tempered forward guidance disappoints investors.
SoFi's annual EPS guidance of 25 to 27 cents led to stock selloff, contrasting its recent strong earnings of 5 cents per share.
The stock has seen exceptional growth over the past year, with shares up 110%, despite recent declines following earnings announcements.
Investment bank William Blair & Company initiated a "Buy" rating as SoFi raised $525 million, highlighting strategic growth and market potential.
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