#2 - SoFi Technologies (NASDAQ:SOFI)
Patient investors in SoFi Technologies (NASDAQ:SOFI) were rewarded in January when the fintech company received approval for its bank charter. This will set SoFi apart from other fintech companies like PayPal (NASDAQ:PYPL). Now the company is taking steps to acquire Golden Pacific Bancorp to complete the transition.
Unfortunately, the gains that SOFI stock received from the news were short-lived. The stock is now trending down as many bank stocks are as some of the big banks reported disappointing earnings.
This presents investors with the risk and reward of SoFi. The company is in the fintech sector, which is expected to continue to threaten the supremacy of traditional banking institutions. And SoFi has Galileo as part of its product offerings which is making it a sought-after partner for companies like Robinhood (NASDAQ:HOOD).
At the same time, SoFi now exists in two sectors, technology and financials. And SoFi is not yet a profitable company. Still, analysts give SOFI stock a $21.70 price target which is a 91% upside from the stock’s current level.
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
- $15.35
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 7 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $11.04 (28.1% Downside)
