SOFI - What's Going On With SoFi Technologies Stock After Earnings? | Benzinga
SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading lower Tuesday. The company posted better-than-expected first-quarter financial results on Monday.
The Details:
SoFi reported earnings of 2 cents per share which beat the analyst consensus estimate of 1 cent. The company said adjusted revenue increased 26% year-on-year to $580.648 million, beating the consensus of $555.997 million.
SoFi added 622,000 new members in the quarter, an increase of 44% year-over-year, bringing its total member count to over 8.1 million.
Despite the better-than-expected results, Sofi shares are dipping lower Tuesday after falling 10% on Monday.
Following the print, Wedbush analyst David Chiaverini reiterated Sofi with an Underperform and maintained a $3 price target on the stock. Needham reiterated its Buy rating and maintained ...