SoFi's near term technicals are strong as the chart indicates it is in both an accelerated and more modest uptrend. Its longer term technicals are a bit more mixed but the key signal is that the stock has just recently broken out of a long term downtrend line. SoFi's earnings results have been strong as revenue trends in the right direction and EPS makes further moves into positive territory.
The company has more than a few levers it can pull for growth.
SoFi Technologies exceeded profit expectations in 3Q24, gaining 756,000 new members and raising its EBITDA forecast for the third time. The Financial Services segment grew its contribution profit by nearly 3,000% YoY and saw a 66% increase in net interest income. Although SoFi's forward profit multiple is high at 38.4x, the fintech's strong growth profile, with anticipated profit growth of 145% YoY next year, justifies this valuation.
SoFi Technologies (SOFI) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Cathie Wood has quietly built a large position in fintech darling SoFi Technologies.
This hot fintech stock was nearly cut in half after its public debut.
This excellent stock has a long growth runway, and it's sustainably profitable.
The financial services company is expanding the services it offers, which is creating more value for customers.
Shares of SoFi fell yesterday after the company reported earnings.
SoFi Technologies Inc SOFI stock is trading higher after Needham analyst Kyle Peterson maintained a Buy rating and raised its price target from $10 to $13.
The online bank performed well, but that didn't stop the stock market from knocking it down.