Is SoFi a Millionaire Maker? [Yahoo! Finance]
SoFi Technologies, Inc. (SOFI)
Company Research
Source: Yahoo! Finance
That drop marks a difficult journey for this popular fintech stock . As of May 3, it sits 73% below its peak price, which was hit in February 2021. But there are reasons to be optimistic about this company and its long-term outlook. Can SoFi be a millionaire-maker stock? Macro headwinds During Q1, SoFi's revenue rose 37% year over year to $645 million, with its customer base increasing by 44% to total 8.1 million. Even more encouraging, the business posted its second straight generally accepted accounting principles ( GAAP positive net income, this time coming in at $88 million. These results were actually quite good. However, there were some data points that point to a business that isn't immune to the current macroeconomic environment, one with higher interest rates and inflationary pressures. Revenue from lending activities -- such as student, personal, and home loans -- dipped 2%. This makes sense, as higher borrower costs discourage people from wanting to take out loans.
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SOFI
News
- SoFi Stock Analysis: Breaking Down the Loan Portfolio [Yahoo! Finance]Yahoo! Finance
- SoFi Stock Investors Have 8.1 Million Reasons to Cheer [Yahoo! Finance]Yahoo! Finance
- Should You Buy SoFi Stock While It's Below $7? [Yahoo! Finance]Yahoo! Finance
- Prediction: These Could Be the Best-Performing Fintech Stocks Through 2030 [Yahoo! Finance]Yahoo! Finance
- SoFi and Templum Partner for Expanded Access to Alternative AssetsBusiness Wire
SOFI
Earnings
- 4/29/24 - Beat
SOFI
Sec Filings
- 5/14/24 - Form 144
- 5/7/24 - Form 10-Q
- 5/6/24 - Form 4
- SOFI's page on the SEC website