What's Going On With SoFi Stock Ahead Of Earnings?
Portfolio Pulse from Erica Kollmann
SoFi Technologies, Inc. (NASDAQ:SOFI) shares have risen over 10% in the past five days, despite a more than 20% decline year-to-date. This comes ahead of its Q1 earnings report on April 29, with expectations of 1 cent per share and $555.997 million in revenue. The stock's recovery follows a drop in student loan-related companies after President Biden announced a $7.4 billion student debt cancellation. SoFi does not pay dividends but may engage in buyback programs, a factor for investors considering the stock's value.
April 26, 2024 | 7:54 pm
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SoFi Technologies, Inc. is experiencing a stock price recovery, up over 10% in the past five days, despite a significant year-to-date decline. The company is set to report Q1 earnings with anticipated revenue of $555.997 million. The recent student debt cancellation by President Biden has impacted student loan-related stocks, including SOFI, which does not offer dividends but may have buyback programs.
The anticipation of SoFi's Q1 earnings report and its recovery from recent sector-wide drops due to regulatory actions on student debt suggest a positive short-term impact. The stock's performance and potential buyback programs are key factors for investors, indicating a likely increase in investor interest and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100