SOFI - Can Weakening Credit Quality Impact SoFi Technologies Fair Value Marks? Analysts See Tech Growth Comfortable Total Capital Ratio | Benzinga
SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading lower on Tuesday.
Yesterday, the company reported fiscal first-quarter 2024 results, where adjusted revenue increased 26% year-on-year to $580.648 million, beating the consensus of $555.997 million. EPS of $0.02 beat the consensus of $0.01.
According to Wedbush analyst David J. Chiaverini, slowing growth and credit quality weakness highlight the transition year for the company.
The analyst reiterated an Underperform rating with a forecast of $4.
Credit quality has been weakening, and it may continue to weaken given the macro backdrop, which could negatively impact the company’s fair value marks, Chiaverini adds.
Greater proportion of losses occur sooner on more recent ...