SoFi Technologies Reaches $34.6B Market Cap as Ark Invest Reduces Holdings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: Fool
- Significant Asset Growth: SoFi Technologies has surged to over $45 billion in assets within a year, nearly matching regional banks, indicating rapid expansion and market potential in the banking sector.
- Strong Stock Performance: The stock has risen nearly 72% over the past year, reaching a market cap of $34.6 billion, reflecting investor confidence in future growth but also raising concerns about high valuation.
- Profit-Taking Strategy: Ark Invest trimmed approximately 21,094 shares of SoFi in mid-December, likely totaling around $550,000, suggesting a strategy to lock in profits while managing overall portfolio risk.
- Loan Platform Business Growth: SoFi's loan platform contributed $167.9 million to adjusted net revenue in Q3, accounting for 17.5% of total revenue, but its future sustainability is at risk amid economic fluctuations.
SOFI
$27.07+Infinity%1D
Analyst Views on SOFI
Wall Street analysts forecast SOFI stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SOFI is 27.21 USD with a low forecast of 12.00 USD and a high forecast of 38.00 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.
16 Analyst Rating
5 Buy
7 Hold
4 Sell
Hold
Current: 27.480
Low
12.00
Averages
27.21
High
38.00
Current: 27.480
Low
12.00
Averages
27.21
High
38.00
About SOFI
SoFi Technologies, Inc. is a member-centric, one-stop shop for digital financial services. The Company, through its lending and financial services products, allows members to borrow, save, spend, invest and protect their money. The Company's segments include Lending, Technology Platform and Financial Services. The Lending segment offers personal loans, student loans, home loans and related servicing to help its members with a variety of financial needs. Its platform supports the full transaction lifecycle, including credit application, underwriting, approval, funding and servicing. The Technology Platform segment provides services through a diversified suite of offerings which include an event and authorization platform accessed via application programming interfaces, a cloud-native digital and core banking platform and services related to both platforms. The Financial Services segment offers a suite of financial services solutions, including SoFi Money and SoFi Invest.
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.
