SOFI - This Magnificent Fintech Stock Is Down 30% This Year but 1 Wall Street Analyst Sees It Going 72% Higher
2024-05-08 09:45:00 ET
SoFi Technologies (NASDAQ: SOFI) -- the online bank that went public in 2021 -- has moved past its origins as a lending cooperative and its status as a hyped-up initial public offering (IPO) stock . It's been demonstrating profitable growth at scale and has huge long-term opportunities. So why is its stock down 30% this year?
Let's see what's going on, and why one Wall Street analyst still sees more than 70% upside over the next year or so.
SoFi reported another outstanding quarter with accelerating revenue growth, more members, and net income beating expectations all around.
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This Magnificent Fintech Stock Is Down 30% This Year, but 1 Wall Street Analyst Sees It Going 72% Higher