Rising rates reportedly cost SoFi more than $1 billion in the third quarter, before any help from hedges. A new Buy rating and Thursday's share rise are positive, but the reported costs and a cut forecast weigh more.
Higher rates made SoFi's growth more costly, according to the analyst quoted. One firm began coverage with a Buy rating, but another kept an Underperform rating and cut its forecast. The reported costs and lower forecast weigh more than one positive analyst view.
Bank of America missed estimates for adjusted profit and sales. It also reported a $1.2 billion regulatory settlement, bringing profit to 91 cents per share.
JPMorgan missed estimates on Tuesday, pointing to weaker results than analysts expected.
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