SoFi Technologies Hits 12.6 Million Customers, Online Banking Growth Accelerates
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Significant Customer Growth: SoFi Technologies has seen its customer base surge from 704,000 in early 2019 to over 12.6 million, indicating strong appeal in the online banking sector, particularly among younger users, which suggests substantial future growth potential.
- Optimistic Revenue Outlook: PayPal is projected to achieve $33.3 billion in revenue for 2023, with forecasts indicating $41 billion in revenue and $5.8 billion in net income by 2028, showcasing its robust competitiveness and sustained growth in the global online payment market.
- Enhanced Loan Approval Efficiency: Upstart's use of AI algorithms has led to a 43% increase in loan approval rates, with over 90% of approvals being automated, highlighting its innovative capabilities in credit scoring and strong market demand.
- Market Reaction Volatility: Despite experiencing significant stock price fluctuations, Upstart processed more than double the number of loans in the first three quarters of last year, demonstrating resilience in its business amid economic uncertainties and potential for greater market recognition ahead.
Analyst Views on PYPL
Wall Street analysts forecast PYPL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PYPL is 83.10 USD with a low forecast of 66.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
11 Buy
16 Hold
3 Sell
Moderate Buy
Current: 56.560
Low
66.00
Averages
83.10
High
105.00
Current: 56.560
Low
66.00
Averages
83.10
High
105.00
About PYPL
PayPal Holdings, Inc. offers a technology platform. The Company’s products are designed to enable digital payments and simplify commerce experiences for consumers and merchants to make selling, shopping, and sending and receiving money simple, personalized, and secure, online or offline, including mobile. It provides consumers with a digital wallet that enables them to send payments to merchants securely using a variety of funding sources, which include a bank account, a PayPal or Venmo account balance, its consumer credit products, a credit card, a debit card, certain cryptocurrencies, or other stored value products. It operates a global, two-sided network at scale that connects consumers and merchants with 434 million active accounts across approximately 200 markets. Its brands include PayPal, Braintree, Venmo, Xoom, Hyperwallet, PayPal Zettle, PayPal Honey, and Paidy. It offers financing products through the PayPal Working Capital (PPWC) and PayPal Business Loan (PPBL).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
