SoFi: Don't Give Up Now
Update - Oct. 14, 2024
SoFi is approaching $10 on news of a loan agreement with Fortress. The stock is still cheap despite almost doubling in the last few months. The fintech traded at $10 during 2023 and has grown substantially during this period.
-SoFi Technologies (NASDAQ:SOFI) stock jumped 6.6% in Monday premarket trading after the digital bank announced a $2B loan platform agreement for personal loans with funds managed by affiliates of Fortress Investment Group.
-The pact will expand SoFi's capabilities in its loan platform business, where the company refers prequalified borrowers to loan origination partners as well as originates loans on behalf of third parties.
Original article posted on Sept. 25
- SoFi Technologies, Inc. has experienced significant revenue growth since going public, yet its stock remains undervalued, presenting a strong buying opportunity for investors.
- CEO Anthony Noto predicts increased loan demand due to Fed interest rate cuts, further boosting SoFi's growth prospects.
- SoFi's future revenue growth is expected to re-accelerate, with forecasts of 20-25% compound annual growth and substantial EPS growth through 2026.
- The stock trades at just 7x 2026 EBITDA targets, while growth rates are forecasted to far exceed that multiple.
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