So much drop by just one analy

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Echowhiskey
2023-08-02

So much drop by just one analysts? [Spurting]

SoFi Stock Dives 4% After Cut to Underperform at KBW on Valuation

SoFi Technologies (NASDAQ:SOFI) shares dropped 9.61% on Tuesday and continued to slide in premarket trading on Wednesday after Keefe, Bruyette & Woods, downgraded the stock to Underperform from Market

SoFi Stock Dives 4% After Cut to Underperform at KBW on Valuation

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[Spurting]","highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/204392877309984","repostId":2356994794,"repostType":2,"repost":{"id":"2356994794","kind":"highlight","pubTimestamp":1690967733,"share":"https://www.laohu8.com/m/news/2356994794?lang=&edition=full","pubTime":"2023-08-02 17:15","market":"us","language":"en","title":"SoFi Stock Dives 4% After Cut to Underperform at KBW on Valuation","url":"https://stock-news.laohu8.com/highlight/detail?id=2356994794","media":"Seekingalpha","summary":"SoFi Technologies (NASDAQ:SOFI) shares dropped 9.61% on Tuesday and continued to slide in premarket trading on Wednesday after Keefe, Bruyette & Woods, downgraded the stock to Underperform from Market","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/SOFI\">SoFi Technologies</a> shares dropped 9.61% on Tuesday and continued to slide nearly 4% in premarket trading on Wednesday after Keefe, Bruyette &amp; Woods, downgraded the stock to Underperform from Market Perform following a surge from its mid-May trough.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4b89e389fe4b25a6cbd60807886f5de7\" tg-width=\"786\" tg-height=\"620\"/></p><p>Since bottoming out at $4.76 in mid-May, SOFI has popped some 120% to $10.54 at 12:23 p.m. ET. What&#39;s more, the stock is trading at more than 30 times the high end of SoFi&#39;s (SOFI) EBITDA target range for this year, analyst Michael Perito wrote in a note.</p><p>&#34;This appears to be one of the highest valuations for any balance sheet financial in the KBW coverage universe and could be difficult to sustain now that short interest likely has somewhat normalized.&#34; We believe valuation has overshot the fundamental earnings outlook,&#34; Perito noted, adding &#34;profitability will be modest at best in 2024&#34; with return on equity in the low single digits.</p><p>The Underperform rating diverges from the average SA analyst rating of Buy, as well as the Quant system rating and the average sell-side analyst rating, both at Hold.</p><p>The bearish coverage comes one day after the company known for refinancing loans delivered Q2 revenue that exceeded the average analyst estimate as personal loan originations climbed and the company attracted new members with good credit scores.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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What's more, the stock is trading at more than 30 times the high end of SoFi's (SOFI) EBITDA target range for this year, analyst Michael Perito wrote in a note.\"This appears to be one of the highest valuations for any balance sheet financial in the KBW coverage universe and could be difficult to sustain now that short interest likely has somewhat normalized.\" We believe valuation has overshot the fundamental earnings outlook,\" Perito noted, adding \"profitability will be modest at best in 2024\" with return on equity in the low single digits.The Underperform rating diverges from the average SA analyst rating of Buy, as well as the Quant system rating and the average sell-side analyst rating, both at Hold.The bearish coverage comes one day after the company known for refinancing loans delivered Q2 revenue that exceeded the average analyst estimate as personal loan originations climbed and the company attracted new members with good credit scores.","news_type":1},"isVote":1,"tweetType":1,"viewCount":243,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":38,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}