SoFi Technologies (SOFI) stock—a darling of the fintech world that’s been stirring up headlines, hyped on potential, and loaded with risk. It’s the unruly punk kid who’s too big for their britches, pushing traditional banks around and trying to rewrite the rules of consumer finance. It’s a company with its eyes on every prize, offering everything from student loan refinancing to stock trading and, as of recently, even full-on banking services.
The Profits Are Starting to Roll In
- SoFi raked in $697 million, comfortably surpassing analyst forecasts and underscoring the strength of its growing suite of financial services.
- SoFi added over 756,000 members, bringing its total to nearly 9.4 million—a 35% year-over-year increase.
- Total products rose by 31% YoY, reflecting strong demand across SoFi’s ecosystem of banking, lending, and investment options.
This quarterly milestone is a significant moment for SoFi, which has been a high-growth, high-expense venture since its IPO. The Q3 EPS achievement provide validation for SoFi’s banking charter and lending initiatives, and it also gives investors a tangible reason to believe that SoFi’s model could turn from promise to profit.
SoFi Technical Analysis
Despite a sharp 9.3% drop post-earnings, it’s already fighting its way back up. SoFi reported a solid double beat in Q3 earnings, outpacing expectations on both revenue and EPS. Now, a quick 9% nosedive would normally leave any stock bruised and staggering for a bit, but not $SOFI. This bounce-back we’re seeing has the hallmarks of a stock that’s ready to rally.
I believe that as long as $SOFI can stay above $9; it’s worth a buy and hold. $SOFI closed today at $11.22
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.