SoFi Technologies Inc. has seen its stock plummet, with a 20.8% decline year-to-date despite a strong 65.8% one-year gain. Although the company finalized a significant $5 billion loan platform agreement and reported better-than-expected fourth-quarter earnings of $0.05 per share, disappointing guidance for annual EPS of $0.25 to $0.27 has spurred sell-offs. Analysts have varied opinions, with price target increases from Morgan Stanley and Needham, while Cathie Wood has sold millions of shares. SoFi aims to continue expanding its market as a comprehensive financial solutions platform.
Shares of SoFi Technologies have experienced a significant decline, dropping 20.8% year to date, despite a strong year-over-year gain of 65.8%.
The fintech company's recent earnings beat analysts' expectations, reporting $0.05 per share, but investors were disappointed by its lowered annual EPS guidance of $0.25 to $0.27.
Following strong fourth-quarter earnings, analysts adjusted their price targets for SoFi, with Morgan Stanley recommending an underweight position despite a raised target.
SoFi aims to be a one-stop shop for financial services, and its rising deposit base is seen as a driver for future growth.
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