SOFI - SoFi: The Selloff Doesn't Bother Me One Bit
2024-05-02 12:50:54 ET
Summary
- SoFi just reported solid Q1 earnings with a triple-beat on analyst estimates.
- The average SoFi Member uses less than two products, presenting cross-sell opportunities.
- SoFi added 622K New Members in Q1 with marketing efficiency up 50% YoY.
- SoFi also turned Net Cash positive in Q1.
- Despite all of this, SoFi is trading at its lowest valuation multiple ever.
Introduction
SoFi ( SOFI ) is a fast-growing fintech company that offers consumers a one-stop shop for all things finance, including digital banking, loans, stock investing, and more. The company also operates a separate financial technology platform, called Galileo, which offers enterprises financial services such as card issuing, payment processing, and digital banking capabilities.
The company recently reported Q1 earnings that beat estimates on the top line, bottom line, and full-year guidance....
SoFi: The Selloff Doesn't Bother Me One Bit