I was wrong about SoFi Technologies (NASDAQ:SOFI) stock. After three years of waiting for a return on my investment, I sold my shares recently, at a loss.The stock currently sells at about $7/share. If you got in a year ago, when it traded near $5, you’re in great shape. But I’d still recommend you sell it.Here’s why.SoFi Stock and Consumer BankingSoFi has evolved into a consumer bank. Its main business is taking deposits and making loans, for houses, for education, and for other life expenses.This can be a ...

SoFi Technologies (NASDAQ:SOFI) is once again one of today’s top movers for all the wrong reasons. Shares of the fintech stock are down another 4% in today’s session after SOFI stock plunged roughly 10% yesterday following the company’s earnings report.Today’s move appears to be tied to a key downgrade from Deutsche Bank analyst Mark DeVries, who lowered his price target on the stock to $11 from $12. This analyst did maintain a “hold” rating, but it’s clear that Wall Street is souring on the up-and-coming f ...

Key TakeawaysSofi Technologies gave lower-than-expected current quarter guidance as it sees 2024 as a "transitional year."The fintech firm will rely more on profits from its Tech and Financial Services platforms and less on lending.The news offset solid profit and sales in the first quarter, and a higher full-year outlook. SoFi Technologies (SOFI) shares plunged Monday after the financial tech (fintech) firm gave worse-than-expected current quarter guidance and called 2024 a period of change. SoFi fell 10.4 ...

Investors in SoFi Technologies (NASDAQ:SOFI) have certainly had it rough over the past year. Shares of SOFI stock are down more than 25% year-to-date (YTD), vastly underperforming most of the firm’s tech peers. Since yesterday’s close alone, SOFI stock has dipped more than 10% as of this writingThis move comes after the company released its first-quarter earnings report. While the company beat on the top and bottom line, investors seem to be focusing more intently on its forward guidance. SoFi brought in EP ...

At 14 times predicted 2026 earnings, the stock looks cheap.Shares of SoFi Technologies (SOFI -9.28%) nose-dived 9.9% through 12:15 p.m. Monday even after the company reported an earnings beat this morning.Heading into the first quarter of 2024, analysts forecast SoFi would earn just $0.01 per share on $556 million in quarterly sales. In fact, profits were twice what were expected at $0.02 per share, and sales came in strong at $645 million. But the stock is still down.The first-quarter earnings reportSales ...

Key PointsSOFI stock is down sharply despite delivering a mostly solid earnings report. Weak revenue guidance and high short interest give the bears the upper hand in keeping SOFI stock under pressure.The company’s digital-only business model has been expensive, but much of that investment is paid, which could lead to more robust growth in coming quarters.  5 stocks we like better than SoFi TechnologiesSoFi Technologies Inc. NASDAQ: SOFI posted solid first quarter numbers and raised its full-year 2024 guida ...

SoFi Technologies, Inc (NASDAQ:SOFI) Q1 2024 Earnings Call Transcript April 29, 2024 8:00 AM ET Company Participants Maura Cyr - IR Anthony Noto - CEO Christopher Lapointe - CFO Conference Call Participants John Hecht - Jefferies Mark Devries - Deutsche Bank Dan Dolev - Mizuho Kyle Peterson - Needham & Company Reginald Smith - J.P. Morgan Peter Christiansen - Citigroup Jeffrey Adelson - Morgan Stanley Mihir Bhatia - Bank of America Terry Ma - Barclays Jill Shea - UBS Operator Good morning. My name is Jordan ...

SoFi Technologies’ latest quarterly earnings results released Monday (April 29) showed a surge in direct deposit activity — and that more customers are using SoFi Money accounts for those direct deposits.CEO Anthony Noto observed on a conference call with analysts that total deposits were up 16% year over year during the first quarter to $21.6 billion. Against that backdrop, 90% of SoFi Money deposits (inclusive of Checking and Savings and cash management accounts) came from direct deposit members.For the n ...

Fintech name SoFi Technologies Inc (NASDAQ:SOFI) reported first-quarter adjusted earnings and revenue of 2 cents per share and $581 million, respectively, both of which beat Wall Street estimates. This reported marked the firm's second consecutive quarter of profitability, but the shares are 10.9% lower to trade at $7.02 at last glance, giving back solid premarket gains. Despite today's pullback, SoFi Technologies stock is holding above its year-to-date lows just above the $7 level. Several short-term movin ...

SoFi (NASDAQ:SOFI) stock is one of the top-trending tickers today after reporting its first-quarter results this morning. While it was up slightly in pre-market trading, it cratered down about 10% after the opening bell.In Q1, the firm generated a profit for the second consecutive quarter and delivered “beat-and-raise” results. The fintech company noted that 2024 would be a “transitional” year for it. Specifically, the firm expects its offerings aside from its student loans to constitute a far larger percen ...