SoFi Impresses With Q3 Beat And Upgraded Guidance, Analysts Boost Price Forecasts On Loan Momentum
Portfolio Pulse from Anusuya Lahiri
SoFi Technologies Inc (NASDAQ:SOFI) reported strong Q3 results, surpassing revenue and earnings estimates, leading to increased price targets from analysts. The company raised its fiscal year 2024 guidance, projecting significant growth in revenue and EBITDA. Analysts highlighted SoFi's growth in loan sales and platform fees, with potential for further upward revisions if interest rates normalize.
October 30, 2024 | 6:57 pm
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SoFi Technologies reported strong Q3 results, beating revenue and earnings estimates, and raised its fiscal year 2024 guidance. Analysts increased price targets, reflecting confidence in SoFi's growth in loan sales and platform fees.
SoFi's strong Q3 performance, with revenue and earnings surpassing estimates, led to increased price targets from analysts. The company's raised guidance for fiscal year 2024 indicates confidence in continued growth, particularly in loan sales and platform fees. This positive outlook is likely to drive short-term stock price appreciation.
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