SOFI - SoFi Technologies Delivered a Profit as Promised. Is It Time to Buy?
2024-02-03 05:37:00 ET
Shares of SoFi Technologies (NASDAQ: SOFI) recently rocketed up in response to a glowing fourth-quarter earnings report. The member-based consumer bank blew past expectations that were already high.
All the extra attention SoFi's getting lately has everyday investors who are still unfamiliar with the bank wondering if it's a smart stock to buy now. To find out if SoFi is a smart buy, let's start by looking at its recent performance in light of some opportunities and challenges that lie ahead.
For years, SoFi has been able to point to positive adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ). A lot more investors started paying attention to the rapidly growing consumer bank in early 2023 after it began guiding toward profitability according to generally accepted accounting principles ( GAAP ).
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SoFi Technologies Delivered a Profit as Promised. Is It Time to Buy?