SOFI Stock Recent News

SoFi Technologies NASDAQ: SOFI, a digital financial services provider, has recently experienced notable stock price fluctuations. While the stock has been volatile, it seems to have found a bottom and has started to recover slowly.

SoFi Technologies stock has seen a correction of 30% since the recent earnings in which it was able to beat the estimates. The correction seems to be overdone as the fundamental numbers of the company are quite strong with 34% YoY growth in members and 26% YoY growth in adjusted revenue. The company is moving away from lending products, which can be seen by the higher mix of financial services products.

SoFi Technologies investors were reminded of why investing in SOFI isn't for the faint-hearted, as they endured a 40% plunge from recent highs. SoFI investors need to navigate economic uncertainties, while seeking to benefit from the deregulatory agenda of the Trump administration. Despite that, SOFI's previous earnings multiples showed why overstating the bullish case isn't astute.

The market has been doing some flip-flopping during the past two weeks, with the Nasdaq Composite officially in a correction and the S&P 500 entering one briefly. Investors are nervous about an economic slowdown, with new tariffs looming that could hurt company earnings.

In the most recent trading session, SoFi Technologies, Inc. (SOFI) closed at $12.64, indicating a -0.71% shift from the previous trading day.

Threats of tariffs and reductions to government spending have the American markets in a shaky position as the S&P 500 pushes into correction territory. Among stocks seeing the hardest hits were financial picks, with companies like Morgan Stanley NYSE: MS and SoFi Technologies NASDAQ: SOFI seeing shares fall up to 12% on Monday alone.

Given the recent decline in SOFI shares, we evaluate the stock's current position to determine how to play it now.

SoFi Technologies, a pure-digital finance company, targets young, high-income individuals underserved by traditional banks, offering diverse financial services through its app and website. The company's national banking charter, secured in 2022, has significantly boosted its deposit base and reduced reliance on capital markets. Despite recent stock price drops due to market turmoil, SoFi's strong growth prospects and solid financials make it an attractive investment with a $14 target price.

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SoFi Technologies has shown strong performance, with shares up 8% since October, outperforming the S&P 500, which is down nearly 5%. The company has achieved multiple GAAP-profitable quarters and a full year of GAAP net income in 2024, indicating sustainable, long-term profitability. SoFi's customer base is growing rapidly, with a 34% year-over-year membership increase and 40% of new members adopting a second product within 30 days.