What a brutal six months it’s been for SoFi. The stock has dropped 36.1% and now trades at $17.68, rattling many shareholders. This might have investors contemplating their next move.
Following the pullback, is now an opportune time to buy SOFI? Find out in our full research report, it’s free.
Why Are We Positive On SOFI?
Starting as a student loan refinancing company founded by Stanford business school students in 2011, SoFi Technologies (NASDAQ: SOFI) operates a digital financial platform offering lending, banking, investing, and other financial services to help members borrow, save, spend, invest, and protect their money.
1. Skyrocketing Revenue Shows Strong Momentum
Examining a company’s long-term performance can provide clues about its quality. Any business can put up a good quarter or two, but many enduring ones grow for years.
Thankfully, SoFi’s 42% annualized revenue growth over the last five years was incredible. Its growth surpassed the average financials company and shows its offerings resonate with customers.
2. Outstanding Long-Term EPS Growth
We track the long-term change in earnings per share (EPS) because it highlights whether a company’s growth is profitable.
SoFi’s full-year EPS flipped from negative to positive over the last four years. This is a good sign and shows it’s at an inflection point.
Final Judgment
These are just a few reasons SoFi is a high-quality business worth owning. After the recent drawdown, the stock trades at 30.7× forward P/E (or $17.68 per share). Is now the right time to buy? See for yourself in our in-depth research report, it’s free.
Stocks We Like Even More Than SoFi
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