Down 38%, Not Out: 5 Reasons to Stay Bullish on $SOFI
$SoFi Technologies Inc.(SOFI)$ is down 38% this year!
Yet, I am still bullish!
Here are 5️⃣ simple reasons why:🧵
1/ Members are exploding
1.2M added in Q3, a record.
17.1M total, +35% Y/Y.
51% of new products now come from existing members, which makes every new dollar of growth cheaper.
Sofi members, products and products per member through Q3 2026
2/ Profits are growing faster than revenue
Revenue +44%.
ADJ EBITDA +70%.
EPS +64%.
46 cents of every new revenue dollar turned into EBITDA.
Sofi adjusted EBITDA and margin by quarter through Q3 2026
3/ Credit keeps getting better
Personal loan charge-offs fell to 2.26% from 2.60%, while originations grew +71%.
Bears predicted the exact opposite.
Sofi net charge-offs by quarter through Q3 2026
4/ The dilution story is over
The 2027 guide needs no capital raise and implies about 3% more shares.
EPS is guided +48%.
Sofi diluted shares outstanding versus diluted EPS by quarter
5/ The stock is priced for failure
18x 2027 EPS after 12 straight revenue beats.
Analysts see $20.97. My fair value is $40+
Sofi forward P/E history
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