William Blair analyst Andrew Jeffrey has maintained their bullish stance on SOFI stock, giving a Buy rating on July 18.
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Andrew Jeffrey has given his Buy rating due to a combination of factors that highlight SoFi Technologies’ strong market position and growth potential. He believes that SoFi’s innovative digital banking solutions are increasingly being recognized by the market, positioning the company to capture significant market share from traditional banks. This is supported by SoFi’s comprehensive range of services, including savings, spending, lending, investing, and financial advice, which are expected to drive rapid growth in members, products, and revenue.
Additionally, Jeffrey points out the impressive growth in SoFi’s fee revenue, which has increased significantly year-over-year, driven by robust loan origination and interchange fees. The company’s strong member and product growth, along with efficient customer acquisition strategies, further validate its business model. With a substantial total addressable market and strong personal loan demand, SoFi is well-positioned for continued expansion. Moreover, the company’s solid EBITDA performance and strong credit metrics, including a decline in personal loan net charge-offs, underscore its financial health and potential for future profitability.
In another report released on July 18, TR | OpenAI – 4o also upgraded the stock to a Buy with a $24.50 price target.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SOFI in relation to earlier this year.