Can Weakening Credit Quality Impact SoFi Technologies Fair Value Marks? Analysts See Tech Growth, Comfortable Total Capital Ratio
Can Weakening Credit Quality Impact SoFi Technologies Fair Value Marks? Analysts See Tech Growth, Comfortable Total Capital Ratio
SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading lower on Tuesday.
週二，SoFi科技公司（納斯達克股票代碼：SOFI）股價走低。
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.
昨天，該公司公佈了2024年第一財季業績，調整後的收入同比增長26％，達到5.80648億美元，超過了市場普遍預期的5.55997億美元。每股收益爲0.02美元，超過了市場預期的0.01美元。
According to Wedbush analyst David J. Chiaverini, slowing growth and credit quality weakness highlight the transition year for the company.
根據Wedbush分析師戴維·基亞韋里尼的說法，增長放緩和信貸質量疲軟凸顯了該公司的過渡年。
The analyst reiterated an Underperform rating with a forecast of $4.
該分析師重申了表現不佳的評級，預測爲4美元。
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.
基亞韋里尼補充說，信貸質量一直在減弱，在宏觀背景下，信貸質量可能會繼續減弱，這可能會對公司的公允價值產生負面影響。
Greater proportion of losses occur sooner on more recent vintages, although losses are currently expected to trend lower in later months, according to the company.
該公司稱，儘管目前預計未來幾個月的虧損將呈下降趨勢，但較大比例的虧損發生在較近的年份中。
Growth in tech platform revenue is a major component of the company's current FY24 guidance, per the analyst.
分析師稱，科技平台收入的增長是該公司當前24財年指導方針的主要組成部分。
Tech platform revenue should be seasonally weaker in the second quarter, and the analyst sees this could result in difficulty achieving 20% tech revenue growth guidance this year, given the steep implied ramp-up in 2H24.
第二季度科技平台收入將出現季節性疲軟，分析師認爲，鑑於24年下半年隱含的急劇增長，這可能會導致今年難以實現20％的科技收入增長預期。
Other incremental negatives include loan origination and sales revenue, which are the lowest reported quarterly going back several years.
其他增量負面因素包括貸款發放和銷售收入，這是幾年前報告的最低季度收入。
Per the analyst, balance sheet capacity for loan growth could be reached in the first half of the year as the company's total capital ratio appears to be at the company's comfort level.
根據分析師的說法，由於該公司的總資本比率似乎處於公司的舒適水平，資產負債表的貸款增長能力可能會在上半年達到。
Slower loan growth in 2024/2025 could lead to materially slower revenue growth relative to 2021-2023, the analyst adds.
分析師補充說，與2021-2023年相比，2024/2025年貸款增長放緩可能會導致收入增長大幅放緩。
Mizuho analyst Dan Dolev reiterated a Buy rating with an unchanged forecast of $12.
瑞穗分析師丹·多列夫重申了買入評級，預測保持不變，爲12美元。
The boost in the total capital ratio from 15.3% to 17.3% indicates additional lending capacity if needed, which can drive potential upside to 2024 revenue, Dolev adds.
多列夫補充說，總資本比率從15.3％提高到17.3％，這表明如果需要的話，可以增加貸款能力，這可以推動2024年收入的潛在上升空間。
Price Action: SOFI shares are trading lower by 4% to $6.76 at last check Tuesday.
價格走勢：週二最後一次檢查時，SOFI股價下跌4％，至6.76美元。
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譯文內容由第三人軟體翻譯。