Shares of SoFi Technologies (SOFI) plunged 10% Monday as the digital financial firm gave lower-than-expected guidance based on "macro assumptions" about the future.
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SoFi Technologies, Inc. (SOFI) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.02 per share a year ago.
SoFi Technologies Inc (NASDAQ: SOFI) is close to 15% in premarket on Monday even though the bank reported market-beating financial results for its fourth financial quarter. Investors are primarily responding to the company's earnings guidance that fell a bit short of experts' forecast.
SoFi posted a mixed outlook on Monday, sending the stock sinking in early trading.
The fintech posts quarterly earnings and revenue that beat analysts' estimates.
It's a matchup between two innovative and high-growth financial technology (fintech) giants. In one corner, SoFi Technologies (SOFI -0.61%) has emerged as a prominent U.S. financial services player enjoying strong demand for its online-based suite of solutions.
SoFi Technologies (SOFI) is up over 130% year-over-year, and according to George Tsilis, the company's earnings report on Monday will prove whether it can hold that trend. He notes SoFi's ability to monetize loan growth quickly, but overall sales will prove the direction of the stock price.
In this video, I will cover the recent updates about SoFi Technologies (SOFI -0.61%). Watch the short video to learn more, consider subscribing, and click the special offer link below.
Cathie Wood's ARK Invest offers several popular exchange-traded funds (ETFs), and they tend to be rather concentrated, with all of them holding three dozen or fewer stocks. And one stock that Wood seems to have a lot of faith in is SoFi Technologies (SOFI -0.61%).
Despite shares falling -0.61% on Friday, SoFi Technologies (NASDAQ: SOFI) had a strong week, gaining 9.40% by Friday's close.