Shares of fintech company $SOFI are down 5% in pre-market trading after cutting its recommendation from neutral to underperform and target price from $5 to $2.5. The announcement was made by analyst firm Wedbush and the analysis was provided by analyst David Chiaverini, who cuts his recommendation on most fintechs. Does analyst opinion play a role for you? Or do you not trust... Read more
Even after the market closed, news of further purchases by the CEO was released. He is said to have already accumulated 6.5mil pieces. I guess the company's confident, a good sign.
Great results from $SOFI sent stock prices down 12%! Is it because of the fall of the US bank $FRC?
Record GAAP and Adjusted Net Revenue for Q1 2023 GAAP net revenue of $472 million up 43%; Adjusted net revenue of $460 million up 43% year-over-year. Adjusted record EBITDA of $76 million up 772% year-over-year.
New member additions of more than 433,000; Total members at quarter-end... Read more
You've got to look at the negatives of the results, too, there's this to check out - The first is that SoFi reported 126 million accounts in the first quarter for its technology platform business, which allows companies to create financial services offerings, down from 131 million in the fourth quarter of last year.
The second thing is the fact that revenue beat analysts' estimates, but it absolutely didn't play with the outlook for the coming quarter and the rest of the year, which after all, logically they should have moved higher as well, but it didn't.
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Even after the market closed, news of further purchases by the CEO was released. He is said to have already accumulated 6.5mil pieces. I guess the company's confident, a good sign.