SoFi Stock Faces Continued Decline Despite Raised Outlook.
TL;DR
SoFi Technologies' stock continues to decline after Q1 earnings report, prompting a rating downgrade from Wedbush to Neutral from Outperform. Despite a sizable Q1 beat, FY guidance was raised "only modestly," and declining tech platform fees in Q1 are expected to remain flattish for the year. Analysts fear that when SoFi starts selling loans again, there could be a material negative impact on the fair value of the loan portfolio.
Topics:businessfinance#finance#loan-portfolio#q1-earnings#rating-downgrade#sofi-technologies#wedbush
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