SOFI - Great long-term play
Diupdate
SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking.
Despite reporting impressive results for the first and the second quarter, SoFi Technologies (NASDAQ:SOFI) remains a beaten-down stock. This is an opportunity for investors to buy the dip.
The management has taken a conservative route towards growth and is moving from unsecured loans to secured loans which may show slow growth in the near term but could be beneficial in the long-term.
These days, SoFi Technologies offers a one-stop solution for everything finance and continues to see high member growth. It ended the second quarter with 8.8 million members, a 41% YOY jump. SoFi’s revenue came in at a record $599 million, up 22% YOY and the net income was $17 million, an impressive shift from the loss in the prior period.
Its financial services segment revenue soared 80% and generated $176.1 million. This was also the company’s third consecutive quarter of profitability and I think this momentum is set to continue.
When SoFi reported its first quarterly profit, the market was unsure whether it would be able to sustain it, however, it will soon report one full year of profitability. As such, I think the company has managed to reach a place where investors can stop worrying about the profitability or the member growth. It is aiming for a revenue of $625 to $645 million for the third quarter.
Trading at $8, SOFI stock is an ideal bet for the long-term investor to double their money.
This is more of a long-term idea - keep this in mind!
Short float: 17.95%
Lots of recent block buys:
Friday August 23, 2024
Block Trade: SOFI 1.2M @ $7.44 below bid of 7.51
Thursday August 22, 2024
Block Trade: SOFI 1.2M @ $7.254 above ask of 7.2
Tuesday August 20, 2024
Block Trade: SOFI 1.3M @ $7.389 above ask of 7.37
Block Trade: SOFI 960,510 @ $7.389 above ask of 7.37
Block Trade: SOFI 1.5M @ $7.388 above ask of 7.37
Monday August 19, 2024
Block Trade: SOFI 569,589 @ $7.46 above ask of 7.45
Monday August 5, 2024
Block Trade: SOFI 719,500 @ $6.59 below bid of 6.6
Block Trade: SOFI 719,500 @ $6.61 at the ask
Friday August 2, 2024
Block Trade: SOFI 672,000 @ $6.691 below bid of 6.72
Todays News:
SoFi Technologies, Inc.
SOFI shares are trading higher Thursday. The United States Supreme Court declined to revive the Biden administration’s student debt relief plan Wednesday.
Shares of student loan servicers including SoFi are trading higher following the court's decision.
The court's denial is a potentially positive development for SoFi, as it stood to lose revenue from interest payments and loan origination fees if student loan forgiveness or deferment resulted from the SAVE plan.
The Details:
The Supreme Court rejected a Biden administration plea Wednesday that sought to revive the Savings on a Valuable Education (SAVE) plan to provide relief to borrowers with federal student loan debt. The court denied an emergency request filed by the administration to lift a nationwide injunction imposed by an appeals court.
Breakout Zone: $8.30
Action: If the stock breaks above this area with strong volume, it might signal a continuation of the upward trend.
Overall Market Sentiment:
Currently, the market seems to be in a correction phase. It’s crucial to consider this sentiment when making trading decisions.
Resistance Points:
$9.00
$10.00
$11.50
$14.00
Surpassing these levels could signal a positive trend. Consider taking profits at these stages to realize gains.
Trading Strategy:
Take Profit (TP): Set a target at $17.00
Stop Loss (SL): Set at under $6.50 to mitigate potential losses.
Chart Analysis:
Please refer to the attached chart for detailed analysis of price trends and movements.
Trading Advisory:
Exercise caution and consider market conditions and your own risk tolerance when trading. It's advisable to conduct comprehensive research or consult with a financial advisor before engaging in trading activities.
Disclaimer: This content is for informational purposes only and should not be considered financial advice.
Despite reporting impressive results for the first and the second quarter, SoFi Technologies (NASDAQ:SOFI) remains a beaten-down stock. This is an opportunity for investors to buy the dip.
The management has taken a conservative route towards growth and is moving from unsecured loans to secured loans which may show slow growth in the near term but could be beneficial in the long-term.
These days, SoFi Technologies offers a one-stop solution for everything finance and continues to see high member growth. It ended the second quarter with 8.8 million members, a 41% YOY jump. SoFi’s revenue came in at a record $599 million, up 22% YOY and the net income was $17 million, an impressive shift from the loss in the prior period.
Its financial services segment revenue soared 80% and generated $176.1 million. This was also the company’s third consecutive quarter of profitability and I think this momentum is set to continue.
When SoFi reported its first quarterly profit, the market was unsure whether it would be able to sustain it, however, it will soon report one full year of profitability. As such, I think the company has managed to reach a place where investors can stop worrying about the profitability or the member growth. It is aiming for a revenue of $625 to $645 million for the third quarter.
Trading at $8, SOFI stock is an ideal bet for the long-term investor to double their money.
This is more of a long-term idea - keep this in mind!
Short float: 17.95%
Lots of recent block buys:
Friday August 23, 2024
Block Trade: SOFI 1.2M @ $7.44 below bid of 7.51
Thursday August 22, 2024
Block Trade: SOFI 1.2M @ $7.254 above ask of 7.2
Tuesday August 20, 2024
Block Trade: SOFI 1.3M @ $7.389 above ask of 7.37
Block Trade: SOFI 960,510 @ $7.389 above ask of 7.37
Block Trade: SOFI 1.5M @ $7.388 above ask of 7.37
Monday August 19, 2024
Block Trade: SOFI 569,589 @ $7.46 above ask of 7.45
Monday August 5, 2024
Block Trade: SOFI 719,500 @ $6.59 below bid of 6.6
Block Trade: SOFI 719,500 @ $6.61 at the ask
Friday August 2, 2024
Block Trade: SOFI 672,000 @ $6.691 below bid of 6.72
Todays News:
SoFi Technologies, Inc.
SOFI shares are trading higher Thursday. The United States Supreme Court declined to revive the Biden administration’s student debt relief plan Wednesday.
Shares of student loan servicers including SoFi are trading higher following the court's decision.
The court's denial is a potentially positive development for SoFi, as it stood to lose revenue from interest payments and loan origination fees if student loan forgiveness or deferment resulted from the SAVE plan.
The Details:
The Supreme Court rejected a Biden administration plea Wednesday that sought to revive the Savings on a Valuable Education (SAVE) plan to provide relief to borrowers with federal student loan debt. The court denied an emergency request filed by the administration to lift a nationwide injunction imposed by an appeals court.
Breakout Zone: $8.30
Action: If the stock breaks above this area with strong volume, it might signal a continuation of the upward trend.
Overall Market Sentiment:
Currently, the market seems to be in a correction phase. It’s crucial to consider this sentiment when making trading decisions.
Resistance Points:
$9.00
$10.00
$11.50
$14.00
Surpassing these levels could signal a positive trend. Consider taking profits at these stages to realize gains.
Trading Strategy:
Take Profit (TP): Set a target at $17.00
Stop Loss (SL): Set at under $6.50 to mitigate potential losses.
Chart Analysis:
Please refer to the attached chart for detailed analysis of price trends and movements.
Trading Advisory:
Exercise caution and consider market conditions and your own risk tolerance when trading. It's advisable to conduct comprehensive research or consult with a financial advisor before engaging in trading activities.
Disclaimer: This content is for informational purposes only and should not be considered financial advice.
Catatan
SoFi stock climbs after forging 22B loan platform agreement with FortressTrade aktif
SOFI is ripping
Tuesday November 5, 2024
SOFI
Block Trade: SOFI 800,000 @ $12.82 at the ask
Tuesday November 5, 2024
SOFI
Block Trade: SOFI 985,431 @ $11.42 above ask of 11.38
Thursday October 31, 2024
SOFI
Block Trade: SOFI 727,555 @ $11.17 at the ask
Thursday October 31, 2024
SOFI
Block Trade: SOFI 550,093 @ $11.18 above ask of 11.17
Wednesday October 30, 2024
SOFI
Block Trade: SOFI 1.8M @ $11.22 above ask of 11.1
Wednesday October 30, 2024
SOFI
Block Trade: SOFI 532,884 @ $11.22 above ask of 11.12
Tuesday October 29, 2024
SOFI
Block Trade: SOFI 748,320 @ $10.56
Tuesday October 29, 2024
SOFI
Block Trade: SOFI 650,700 @ $10.47 at the ask
Tuesday October 29, 2024
SOFI
Block Trade: SOFI 2.2M @ $9.99 at the ask
Tuesday October 29, 2024
SOFI
Block Trade: SOFI 889,000 @ $10.05 at the ask
Tuesday October 29, 2024
SOFI
Block Trade: SOFI 666,600 @ $10.06
Monday October 28, 2024
SOFI
Block Trade: SOFI 792,122 @ $11.19 below bid of 11.21
Friday October 25, 2024
SOFI
Block Trade: SOFI 878,200 @ $10.99 at the ask
Friday October 25, 2024
SOFI
Block Trade: SOFI 878,200 @ $11.05 at the bid
Thursday October 24, 2024
SOFI
Block Trade: SOFI 636,983 @ $10.95 above ask of 10.94
Tuesday October 15, 2024
SOFI
Block Trade: SOFI 846,500 @ $10.12 at the bid
Tuesday October 15, 2024
SOFI
Block Trade: SOFI 607,300 @ $10.09 at the ask
Tuesday October 15, 2024
SOFI
Block Trade: SOFI 840,000 @ $10.38 below bid of 10.45
Monday October 14, 2024
SOFI
Block Trade: SOFI 3.6M @ $10.04 above ask of 10.03
Monday October 14, 2024
SOFI
Block Trade: SOFI 825,300 @ $9.79 at the bid
Monday October 14, 2024
SOFI
Block Trade: SOFI 619,000 @ $9.80 at the bid
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