Why Did Wells Fargo Plunge 3.46% Ahead of Earnings?

On April 9, 2025, Wells Fargo's stock experienced a significant drop of 3.46% during pre-market trading, reflecting a notable decline in investor sentiment.

Wells Fargo's recent financial performance has been a subject of interest for analysts. The company reported a total revenue of $822.96 billion for the year ending December 31, 2024, marking a slight decrease of 0.36% compared to the previous year. However, the net income attributable to the company increased by 3.03% to $197.22 billion, indicating a positive trend in profitability.

Analysts have been closely monitoring Wells Fargo's stock, with Piper Sandler recently upgrading the company to Overweight from Neutral, citing an attractive entry point. Additionally, Truist Financial maintained a Buy rating on Wells Fargo, setting a price target of $84.00. These positive ratings suggest that analysts see potential for growth despite recent market volatility.

Wells Fargo is scheduled to release its first-quarter 2025 earnings on April 11, 2025, which is expected to provide further insights into the company's financial health and future prospects. The upcoming earnings report will be crucial for investors as it will offer a clearer picture of the company's performance amidst economic uncertainties.