#1 - SoFi Technologies (NASDAQ:SOFI)
SoFi Technologies (NASDAQ: SOFI) has been in business since 2011 but it only recently began publicly trading under the ticker symbol SOFI. Of all the companies on this list, SoFi looks the most like a traditional bank.
Digital banking is about convenience. Fintech companies are about connection. Members access SoFi’s suite of tools through its mobile app. Through the app, SoFi gives users information that can help them make wiser personal financial decisions. They can also pay down student debt, obtain a mortgage, and invest in stocks and bonds. The company also uses a points-based reward system that members can redeem in a variety of ways including converting them into cryptocurrency.
Since going public, SOFI stock has been trading in a wide but defined range. Investors don’t question the company’s revenue. Unlike some companies that go public via a SPAC, SoFi has significant revenue largely due to continued growth in its user basis which now numbers over 1.9 million unique members. However, it’s not profitable yet. But it claims that it will be this year. If that happens, buying shares at their current level will look like a bargain.
About SoFi Technologies
SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.
Read More - Current Price
- $15.06
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $9.80 (34.9% Downside)
