SoFi Technologies ' (NASDAQ: SOFI) recent third-quarter results were strong, beating analysts' expectations and prompting the company to raise its full-year forecast. Its better-than-expected results, especially in today's challenging environment, have put this once-hot stock back on the radar for many investors.
While SoFi could be a good buy over the long run, there's a lot that needs to go right for this young fintech company to pay off as hoped. Investors looking for similar growth opportunities but with more safety should consider buying Ally Financial (NYSE: ALLY) instead. Here's why.
Ally and SoFi are both online-only banking companies that offer traditional consumer financial services like checking accounts, savings accounts, credit cards, and loans along with other services. But there are some key differences between the two.
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Here's a Bank Stock I'd Buy Before SoFi