Added to YB: 2024-05-13
Pitch date: 2024-05-10
SOFI [bullish]
SoFi Technologies, Inc.
+288.05%
current return
Author Info
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Company Info
SoFi Technologies, Inc. provides various financial services in the United States, Latin America, Canada, and Hong Kong.
Market Cap
$34.2B
Pitch Price
$7.03
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
52.26
EV/Sales
N/A
Sector
Consumer Finance
Category
growth
Ok, What the Heck is Sofi Doing in 2024? (SoFi for Dummies)
SOFI: Transitioning from student lender to major bank. Overcame COVID, SPAC issues, rate hikes to deliver 2 profitable Qs <2yrs post bank charter. Restructured debt, cut costs, grew rev/members. Tightening credit to reduce fair value writeoff risk as rates fall, position for member growth later. Tech/product rollouts (Zelle, etc) take time but are key. 30M members + fees from credit cards, asset mgmt could drive major profits. $0.48 2024 EPS potential (ex-writeoffs), $0.80 2026 EPS guide looks low. Progress is strong, investing for 5yr+ outlook.
Read full article (14 min)