I maintain a "Buy" rating on SoFi Technologies due to its robust growth potential and unique personal finance-focused business model. SoFi has consistently beaten consensus forecasts, with Q1 and Q2 results surpassing expectations, driving positive stock performance. Despite its seemingly high valuation, I believe SoFi's growth in deposits will continue to fuel business expansion in upcoming quarters.
From a technical perspective, SoFi Technologies, Inc. (SOFI) is looking like an interesting pick, as it just reached a key level of support. SOFI's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
The market can stay irrational longer than you can stay solvent.
Not all of her investment picks are expensive.
California fintech giant SoFi is teaming up with British capital markets platform PrimaryBid Technologies to expand its initial public offering share placement business, the company told Reuters.
Shares of this fintech leader haven't panned out as investors had hoped.
The Fed's interest rate cuts should only fuel the fire for this hypergrowth fintech.
Liz Young Thomas, SoFi head of investment strategy, joins 'Squawk Box' to discuss the latest market trends, where investors can find opportunities right now, impact of the Fed's interest decision, and more.
SoFi Technologies is a one-stop-shop financial platform with increasing revenue and gross margins but remains unprofitable with a high P/E ratio. CEO Anthony Noto has built a strong narrative appealing to Millennials, who are set to inherit significant wealth and prefer digital financial solutions. Major risks include a high P/E ratio, negative RoE and FCF, and competition from larger financial institutions adapting to Millennial needs.
SoFi's customer bank account deposits have risen to over $23 billion over the past few years. SoFi has posted three consecutive profitable quarters as it grows its bank and scales up its technology business.
SoFi has expanded into a large array of financial services beyond lending. The non-lending segments are growing faster than the lending segment.