What's Going On With SoFi Stock After Earnings?
Portfolio Pulse from Erica Kollmann
SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading higher after the company reported strong Q2 results, with earnings of 1 cent per share and quarterly sales of $599 million, beating estimates. Revenue increased 22.54% year-over-year, and total members rose 41%. The company raised its full-year revenue guidance, and analysts have a positive outlook with a price target of $10.
July 31, 2024 | 5:17 pm
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SoFi Technologies reported strong Q2 results with earnings of 1 cent per share and $599 million in sales, beating estimates. Revenue grew 22.54% YoY, and total members increased by 41%. The company raised its full-year revenue guidance, and analysts have a positive outlook with a price target of $10.
The strong Q2 results, including earnings and revenue beats, along with significant YoY growth in revenue and members, are likely to positively impact SoFi's stock price in the short term. The raised full-year revenue guidance and positive analyst ratings further support this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100