SoFi Technologies reported quarterly earnings and revenue above analysts’ estimates, with CEO Anthony Noto deeming 2024 the fintech’s “best year ever.”However, shares tumbled 9.8% to $16.16 in trading Monday as financial guidance from the company seemed to overshadow its quarterly results.

SoFi Technologies Inc. provided mixed first-quarter guidance, with profitability expected to be below Wall Street forecasts but revenue above — and that’s sending the stock sinking more than 9% in early Monday trading.

SoFi Technologies pointed to "macro assumptions" in giving weaker-than-expected quarterly and full-year guidance.

I favor the bullish case — although in my view the market will only react positively if SoFi exceeds investor expectations and raises its guidance when the company

SoFi stock ended up as a top performer last year, and it's not so cheap at the current price. It trades at a forward one-year P/E ratio of 40 and a price-to-book ratio of nearly 3. If it continues to demonstrate robust growth, it could justify that premium and keep gaining even in the near term.

SoFi posted adjusted earnings per share of 5 cents, beating Wall Street’s call for 4 cents, according to FactSet. Adjusted net revenue of $739 million wa