Why This Analyst Believes SoFi Technologies Will Disrupt Legacy Consumer Finance

Benzinga2022-01-20

SoFi Technologies Inc has been generating robust growth and appears poised to grow at a 28% compounded annual rate through 2026, according to Wedbush.

The SoFi Technologies Analyst: David Chiaveriniinitiated coverage of SoFi Technologies with an Outperform rating and a price target of $20.

The SoFi Technologies Thesis:The company’s members increased to over 3 million in the fourth quarter of 2021 and revenue growth guidance of nearly $1 billion for FY2021 is strong, Chiaverini said in the note.

He expressed optimism about SoFi Technologies being able to drive member growth with its increasing brand presence.

SoFi offers comprehensive financial services, which “is a significant competitive advantage over neobank competitors who tend to focus on niche offerings,” the analyst wrote.

The company’s “streamlined product offering makes it well-positioned versus legacy consumer finance providers including traditional banks who are viewed by younger cohorts as being outdated, not fee-friendly, and have friction in the cross-selling process given business segments tend to operate in silos,” Chiaverini added.

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Comments

JimmySiew
2022-01-20
JimmySiew
Nice
Landly
2022-01-20
Landly
Good

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