Hey everyone, welcome back to YT Finance your favorite financial youtuber! I am so excited to talk to you today about SoFi Technologies! This company is seriously taking the financial world by storm, and I am here for it. Founded in 2011, SoFi is a fintech company that is aiming to be the future of personal finance. They offer everything from banking to personal loans to credit cards to investing to insurance – you name it, they’ve got it covered. And let me tell you, their growth has been incredible. In Q4 alone, they added almost half a million new members, bringing their total to 5.2 million – that’s up 51% year over year! But the best part? SoFi’s earnings are looking seriously promising. They beat earnings estimates in January and are on track to turn a profit by 2024. And with revenue projected to climb by 25% this year and an additional 23% in FY24, this stock is looking seriously hot. Sure, the stock may be down 65% over the past two years, but it’s up 44% in 2023 alone. And with a Zacks Rank #2 (Buy) and seven out of 11 brokerage recommendations being ”Strong Buys,” this stock has serious potential. But let’s talk about why this company is really worth investing in. First off, SoFi is positioned perfectly to compete with traditional banks. And secondly, their future growth will be fueled by product offerings and customer monetization. Plus, their banking license means they can offer comprehensive financial services, increase their deposit base, and keep loans on their books to increase interest income. And get this – SoFi is protected from rate increases by a variety of hedging strategies. They’ve been increasing their weighted average coupon for personal loans to keep up with rising rates and maintain low loan losses and default rates. So, what’s the verdict? Well, one analyst rates SOFI a Buy with a price target of $8 – that’s a 24% upside potential! And with the analyst consensus rating being a Moderate Buy and an average price target of $7.95, it’s clear that SoFi is a stock worth investing in. And if all that isn’t enough to convince you, consider this – reports show that conservative justices are skeptically questioning President Biden’s plan to forgive billions of dollars of student debt. This could be a huge opportunity for SoFi, as they could potentially benefit from a surge in student loan refinancing. So there you have it, SoFi Technologies is a seriously exciting company with huge potential. Don’t miss out on this one!
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.
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