SoFi: An Outperformer Through The Banking Crisis [Seeking Alpha]
SoFi Technologies, Inc. (SOFI)
Company Research
Source: Seeking Alpha
AntonioSolanoWe previously covered SoFi Technologies, Inc. (NASDAQ:SOFIheresegment delivered tremendous growth in deposits, while similarly being GAAP profitable.For this article, we will further discuss SOFI Bank's prospects through the standard metrics, determining the health of its assets, deposits, and profitability. Our deep dive revealed that the company was highly competent in delivering improved profitability while managing risk, despite the uncertain macroeconomic outlook.The Smaller Bank Investment ThesisIn FY2022, SOFI Bank grew its deposits tremendously to $7.3B, despite only obtaining the banking license in early January 2022. Furthermore, it hinted at anotherstellar FQ1'23 quarterPayments Symposium Conference in March 2023.The bank expected another $2.3B of deposits (in line QoQ), if not more, potentially pushing its total deposits up to $9.6B (+31.5% QoQ &+700% YoYParticularly, only $615.9M of SOFI's deposits exceeded the FDIC's insured amount, comprising only a minimal
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SOFI
News
- SoFi Technologies, Inc. (SOFI) Declines More Than Market: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- Rapid Finance Taps SoFi, Galileo to Enable Rapid Access Mastercard for Small Business Financing [Yahoo! Finance]Yahoo! Finance
- Rapid Finance Taps SoFi, Galileo to Enable Rapid Access Mastercard for Small Business FinancingBusiness Wire
- 3 No-Brainer Money-Related Stocks to Buy Right Now for Less Than $500 [Yahoo! Finance]Yahoo! Finance
- SoFi Technologies, Inc. (SOFI) Beats Stock Market Upswing: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
SOFI
Earnings
- 1/29/24 - Beat
SOFI
Sec Filings
- 4/8/24 - Form ARS
- 4/8/24 - Form DEFA14A
- 4/8/24 - Form DEF
- SOFI's page on the SEC website