What's Going On With SoFi Technologies Stock This Week?
Portfolio Pulse from Adam Eckert
SoFi Technologies Inc (NASDAQ:SOFI) reported Q4 adjusted sales of $594.25 million, surpassing estimates, and adjusted earnings of 2 cents per share, improving from last year's loss. The company saw significant growth in members, products, and deposits. However, SoFi's Q1 revenue forecast is below estimates, and analysts have mixed views, with Goldman Sachs maintaining a Neutral rating and raising the target to $8, while Morgan Stanley downgraded the stock to Underweight with a target of $6.50. Shares rose over 20% on Monday but faced selling pressure subsequently.
January 31, 2024 | 3:56 pm
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SoFi Technologies reported strong Q4 results but provided a softer Q1 revenue outlook. Analyst ratings are mixed, with a recent downgrade by Morgan Stanley and a price target cut, suggesting potential short-term pressure on the stock.
The mixed analyst ratings, especially the recent downgrade by Morgan Stanley, combined with a Q1 revenue forecast below estimates, are likely to create uncertainty among investors. This could lead to short-term selling pressure on SOFI shares, despite the strong Q4 performance.
CONFIDENCE 80
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