Totally his opinion 😉
THE 14 RANKED ANALYST IN THE WORLD JUST INITIATED COVERAGE ON SOFI WITH AN OUTPERFORM RATING AND A $17 PRICE TARGET. 🚀
Devin Ryan of Citizens JMP highlighted SoFi's robust growth trajectory, increasing profitability and undervaluation relative to future earnings potential as the main drivers for the positive outlook. The company has shown strong momentum over the last twelve months with revenue growth of 27.8%. SoFi Technologies, founded in 2011, aims to enable financial independence for its customers through its app. The platform offers a comprehensive range of financial services, including borrowing, saving, spending, investing and wealth protection.
The analyst pointed out that SoFi's integrated financial services are available to over 10 million members. He attributes the company's success to its modern technology stack and land-and-expand strategy. This approach has been instrumental in launching several products with low unit costs in both the consumer and corporate markets. Data from InvestingPro shows that the company has a solid gross profit margin of 82.5% and trades at an attractive PEG ratio of 0.13, suggesting efficient growth potential.
