SoFi Technologies has received a lot of attention from a substantial price movement over the last few months, increasing to US$23.89 at one point, and dropping to the lows of US$13.75
It seems Sofi Technologies has be gaining as a platform, and members seem to be growing.
The further development of their app and platform should increase user satisfaction and create networking benefits.
SoFi Technologies is just starting its journey and will have a lot to prove before it can become what it sees itself as - an automated banking and financial service platform.
The last quarter showed some encouraging growth, but should be taken with a grain of salt because it seems to be reflective of current trends for investing and financial distress because of COVID.
Analysts are estimating close to $2b in revenue and a break in profitability after 2023. However, the current market cap for SoFi is US$11.8b, which is reflective of the very long term potential of the company.
It may be too early to assess if the company can actually reach that potential, and the current valuation seems a bit speculative.
But overall, I think this company has an incredible future ahead.
When we move to the technical side of things
SoFi Technologies has been a little everywhere but it’s currently sitting on strong support on the higher timeframe and should be a level to watch out for.
A break of support could see this stock tumble but if it continues to hold, we could see Sofi move towards the $16 level to fill the gap.
Keep this on your watchlist.
It seems Sofi Technologies has be gaining as a platform, and members seem to be growing.
The further development of their app and platform should increase user satisfaction and create networking benefits.
SoFi Technologies is just starting its journey and will have a lot to prove before it can become what it sees itself as - an automated banking and financial service platform.
The last quarter showed some encouraging growth, but should be taken with a grain of salt because it seems to be reflective of current trends for investing and financial distress because of COVID.
Analysts are estimating close to $2b in revenue and a break in profitability after 2023. However, the current market cap for SoFi is US$11.8b, which is reflective of the very long term potential of the company.
It may be too early to assess if the company can actually reach that potential, and the current valuation seems a bit speculative.
But overall, I think this company has an incredible future ahead.
When we move to the technical side of things
SoFi Technologies has been a little everywhere but it’s currently sitting on strong support on the higher timeframe and should be a level to watch out for.
A break of support could see this stock tumble but if it continues to hold, we could see Sofi move towards the $16 level to fill the gap.
Keep this on your watchlist.