SoFi stock is up 15% on Monday: here’s the catalyst

SoFi Technologies Inc (NASDAQ: SOFI) is up about 15% this morning after reporting better than expected results for its fiscal fourth quarter.

SoFi issues upbeat full-year guidance

More importantly, the digital financial services firm offered upbeat guidance for the full year on Monday. SoFi Technologies Inc now forecasts $260 million to $280 million in adjusted EBITDA this year.

In comparison, analysts were at $246 million instead. Its current quarter outlook also topped estimates. CEO Anthony Noto said in the earnings press release:

SoFi stock is now up roughly 50% for the year.

SoFi Technologies’ Q4 earnings snapshot

• Lost $40 million versus the year-ago $111 million
• Per-share loss also narrowed from 15 cents to 5 cents
• Revenue climbed 60% year-on-year to $456.7 million
• Consensus was 9 cents loss on $423 million revenue
• SoFi Bank noted a 46% sequential growth in deposits

Student-loan and home-loan originations tanked 72% and 84%, respectively. Personal-loan originations, though, went up 50% in Q4. Noto also said:

Wall Street currently has a consensus “overweight” rating on the SoFi stock.