Why Did Wells Fargo Plunge 3.61% Pre-Market?

On April 9, 2025, Wells Fargo's stock experienced a significant drop of 3.61% during pre-market trading, reflecting investor concerns and market sentiment.

Wells Fargo's recent financial performance has been a focal point for investors. 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. This move suggests that some analysts see potential for growth despite recent market volatility. Additionally, Truist Financial maintained a Buy rating on Wells Fargo, setting a price target of $84.00, which reflects a positive outlook on the company's future performance.

Wells Fargo is scheduled to release its first-quarter 2025 earnings on April 11, 2025. This upcoming report is expected to provide further insights into the company's financial health and its ability to navigate current economic challenges. Investors will be closely watching these results to gauge the company's performance and make informed decisions about their investments.