What is Your Target Price of SOFI After Earnings Beat Expectations?

$SoFi Technologies Inc.(SOFI)$: Shares of SoFi rose 28% after the company beat expectations with its latest results and signaled various benefits stemming from its bank charter.

What is Your Target Price After Earnings?

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Earnings

The company reported a second-quarter net loss of $95.8 million, or $0.12 per share.

SoFi posted adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $20 million, up from $11 million a year before.

Revenue increased to $362 million from $231 million.

SoFi saw $2.5 million in personal loan originations during its second quarter, which marked a 91% rise relative to a year prior.

The company disclosed that student-loan volume of $399 million to the quarter was down to about 25% of SoFi’s average pre-pandemic volume “as the moratorium on student loan payments continues to weigh on the business.” Home-loan originations fell by more than half to $332 million, which the company attributed in part to rising interest rates.

Noto shared on the earnings call that the company was seeing strong benefits from the bank charterit officially obtained at the start of the year.

Additionally, the company has seen improved deposit and spending trends.

“To put this in perspective, it took three years to accumulate our first $1 billion of deposits and just three months to grow another $1.6 billion,” Noto said. “In addition, approximately 80% of our deposits are from direct-deposit members, demonstrating the quality and stickiness of these deposits.”

For the third quarter, SoFi executives model adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $75 million to $80 million, whereas analysts were expecting $35 million.

[Topic]

What're your thoughts on $SoFi Technologies Inc.(SOFI)$? Are you long or short on this stock?

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# SOFI: Up 28%! What is Your Target Price After Earnings?

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  • Success88
    ·2022-08-04
    $SoFi Technologies Inc.(SOFI)$ Not very promising stock. Just a little happy now, soon will go down back. $6.50.
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  • SR050321
    ·2022-08-15
    Sofi i bought at $24 sold at $19, after that stay away, if ask me target price, i think not easy to break $10.
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  • Novem678
    ·2022-08-05
    Sofi will be back to over $20 ;)
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  • Alubin
    ·2022-08-04
    thanks for sharing
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  • phagefish
    ·2022-08-04
    go SoFi go
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  • Lewis Foong
    ·2022-08-04
    Well said,thank
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  • jimstocker
    ·2022-08-05
    Nice to know about it. thanks
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  • jethro
    ·2022-08-05
    thanks for the share
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  • katang_sunse
    ·2022-08-04
    hope it stays uptrend longer
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  • Jasmine1205
    ·2022-08-07
    as high as possible!
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  • Papa Bear
    ·2022-08-07
    to the moon [Surprised]
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  • Jasmine1205
    ·2022-08-06
    over 20dollars optimistic!
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  • mark01bravz
    ·2022-08-05
    long sofi
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  • Boeyshi
    ·2022-08-21
    [微笑]
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  • LionCity
    ·2022-08-05
    ok
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  • Vincenttan91
    ·2022-08-05
    Good
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  • oloolo
    ·2022-08-09
    Thanks
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  • oloolo
    ·2022-08-08
    Thanks
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  • angelchow
    ·2022-08-08
    ok
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  • oloolo
    ·2022-08-07
    Thanks
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