How to Buy Sofi Technologies Stock
Sofi Technologies Inc
SoFi Technologies, Inc. provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services.
Sofi Technologies stock last closed at $8.13, up 2.14% from the previous day, and has increased 84.77% in one year. It has overperformed other stocks in the Credit Services industry by 0.73 percentage points. Sofi Technologies stock is currently +91.75% from its 52-week low of $4.24, and -30.51% from its 52-week high of $11.70.
At the moment, there are 958.74M shares of SOFI outstanding. The market capitalization of SOFI is $7.79B. In the last 24 hours, 34.29M SOFI shares were traded.
How to Buy Sofi Technologies Stock
Wondering how to invest in Sofi Technologies stock? Here's how.
- Choose where to buy Sofi Technologies stock: You need to pick an online brokerage, but don't worry - we've researched dozens of online stock brokerages and apps to help you choose where to buy Sofi Technologies stock.
- Create your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Deposit funds into your brokerage account: Pick your payment method and add your information.
- Research Sofi Technologies stock: The Sofi Technologies ticker symbol is SOFI. Is Sofi Technologies stock a good investment? Should you buy shares of SOFI? How do SOFI's underlying business fundamentals look? Do top analysts think Sofi Technologies is a good buy? Why has SOFI's stock price moved recently? (Hint: Our stock market analysis website can help you understand if SOFI is a good stock to buy).
- Place your SOFI buy order: Decide if you will purchase SOFI shares at the current market price or use a limit order to purchase SOFI stock at a given price.
- Get key alerts regarding your SOFI position: Create a watchlist to watch your investment in Sofi Technologies shares.
Step 1: Choose where to buy Sofi Technologies stock
You need an online brokerage account to access the NASDAQ market and buy SOFI stock.
Our recommended brokerage: eToro
In our opinion, eToro is the best stock brokerage. Here's why:
- Invest in stocks with zero commissions: Invest without paying trading commissions.
- Buy fractional shares: Even if you don't have the money to buy a full share, you can still buy the stock.
- Access to world markets: From Technology to Real Estate, New York to Tokyo — you can fill your portfolio with stocks from the globe's leading exchanges.
- Social investing: eToro offers a community with more than 20 million users globally. Talk to, learn from, and copy the crypto trades of top investors.
- Security: eToro is a regulated and licensed fintech leader.
- Buy other financial assets: Such as ETFs and cryptocurrencies.
Get $10 towards your share purchase by creating an account with eToro now.
Open eToro AccountStep 2: Create your brokerage account
Now that you've chosen the best brokerage, you need to fill out some personal info so you can buy SOFI stock today.
How to Create a New Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Enter your personal data to start a new trading account.
- Send your details by clicking the "Create Account" button. Get started with eToro today
Step 3: Deposit funds into your brokerage account
Now that you have created your account on stock market apps, your next step is to transfer the money for your investment:
Check out this video walkthrough if you need help depositing funds into your investment account.
Step 4: Research Sofi Technologies stock
After you have decided on the best place to buy Sofi Technologies stock, it's critical to research their stock prior to buying, so you can understand the risk and opportunity.
Sofi Technologies Numbers
Sofi Technologies Due Diligence Checks
WallStreetZen was created to help part-time investors do better fundamental analysis quickly.
You can view all of the due diligence checks on SOFI's stock page.
How is SOFI stock valued?
Investors use many financial metrics, analyses, models, and charts to gauge SOFI's true value.
Using relative valuations methods:
- SOFI may be undervalued based on its P/B ratio of 1.54x, relative to Credit Services industry P/B ratio of 4.21x
You can do more valuation analysis on SOFI's stock here.
SOFI Financial Overview
Signs that SOFI is financially healthy:
- SOFI profit margin has gone up from -27.9% to -19.8% in the past year.
Signs that SOFI is not financially healthy:
- SOFI has a relatively high debt to equity ratio of 4.47.
Is Sofi Technologies stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 13 Wall Street analysts who track SOFI, the consensus analyst rating on SOFI is a Hold
It's important to note that analyst forecasts are not stock recommendations, nor are they financial advice.
Most Recent SOFI Analyst Ratings
Michael Perito, a top 10% analyst from Keefe, Bruyette & Woods upgrades SOFI to a hold rating and announces their SOFI price target of $7.50, on Oct 19, 2023.
Reginald Smith, a bottom 9% analyst from JP Morgan maintains SOFI with a hold rating and raises their SOFI price target from $8.00 to $10.00, on Aug 22, 2023.
Dan Dolev, a bottom 1% analyst from Mizuho maintains SOFI with a strong buy rating and raises their SOFI price target from $9.00 to $15.00, on Aug 2, 2023.
Mizuho's Dan Dolev raised their price target on Sofi Technologies Inc (NASDAQ: SOFI) by 66.67% from $9.00 to $15.00 on 2023/08/02. The analyst maintained their Strong Buy rating on the stock.
Leaving SoFi's Q2 2023 earnings presentation on 2023/07/31, the analyst termed the company's Q2 "flawless."
SoFi's student loan opportunity from the end of the federal student loan payment pause [on 2023/09/01] is back online, Dolev reported.
Furthermore, Mizuho's data suggests that the online bank's potential market is $350B to $400B, which is around 25% of the total outstanding student loan debt of $1.6 trillion, the analyst added, arguing that "the Street must have mispriced this opportunity."
Earnings Report
For Q2 2023, SoFi Technologies reported:
- Loss per share of $0.06, which beat the Zacks Consensus Estimate of $(0.07) and, by 50%, Q2 2022’s $(0.12).
- Revenues of $488.82M, which beat the Zacks Consensus Estimate by 3% and, by 37%, $356.09M.
- EBITDA of $76.82M which beat, by 278%, Q2 2022’s $20.30M.
Management guided:
For 2H 2023:
- Revenue of $1.025B to $1.085B which, if achieved, would represent a 19% to 26% increase Y/Y.
- EBITDA of $180M to $190M.
For FY 2023:
- Revenue of $1.974B to $2.034B, up from prior guidance of $1.955B to $2.02B.
- EBITDA of $333M to $343M, up from prior guidance of $268M to $288M.
CEO Anthony Noto commented: “We delivered another quarter of record financial results and generated our ninth consecutive quarter of record adjusted net revenue, which was up 37% Y/Y.
“Record revenue at the company level was driven by record revenue in both our Technology Platform business segment and our Financial Services business segment coupled with continued strong Lending business segment revenue growth.
“We also generated our fourth consecutive quarter of record adjusted EBITDA of $77M, representing a 43% incremental adjusted EBITDA margin and a 16% margin overall, as well as a 36% incremental GAAP net income margin.”
Mihir Bhatia, a top 18% analyst from Bank of America maintains SOFI with a hold rating and raises their SOFI price target from $10.00 to $11.50, on Aug 1, 2023.
David Chiaverini, a bottom 3% analyst from Wedbush reiterates SOFI with a sell rating and maintains their SOFI price target from $3.00 to $3.00, on Aug 1, 2023.
You can dig deeper into what analysts are saying on the Sofi Technologies stock forecast page.
SOFI Trading Indicators
How are SOFI Revenues/Earnings doing?
Last year, SOFI revenue was $1.96B. In the past two year, SOFI's revenue has increased by 50.19% per year. This was faster than the Credit Services industry average of 9.93%.
Dive into SOFI's earnings and revenue performance here.
Latest Insiders Trades at SOFI
In the last 12 months, insiders at SOFI have sold more shares than they have bought.
Anthony Noto, Chief Executive Officer of SOFI, was the latest SOFI insider to buy. They bought $146,295.00 worth of SOFI stock on Nov 21, 2023.
Get more info about who owns SOFI shares here.
Does SOFI stock generate passive income?
No, Sofi Technologies doesn't provide an income stream by paying out dividends.
Get opinions from other traders
One of the primary reasons eToro is our highest-rated brokerage is because of its social trading community.
Click below to find out what other community members have to say.
Step 5: Place your SOFI buy order
You have two primary order types:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are mostly the best for newer investors. - Limit order: A limit order enables you to buy or sell a security at a specific price (or better).
If you want to make sure you're buying or selling at a particular price, use a limit order.
Press the Open Trade button and eToro will place your order.
If you require more help investing in stocks on eToro, watch the how to video below:
Step 6: Get key alerts regarding your SOFI position
Now that you own some SOFI stock, you'll want to keep up with your new shares.
Make a watchlist to get alerted to the latest events about your SOFI stock.
SOFI Feed
How to Buy Stock in Sofi Technologies
To summarize, here are the 6 steps to buy stock in Sofi Technologies:
- Choose where to buy Sofi Technologies stock
- Create your brokerage account
- Deposit funds into your brokerage account
- Research Sofi Technologies stock
- Place your SOFI buy order
- Get key alerts regarding your SOFI position
If you require a place to buy stocks, eToro is our recommended venue.
Get Started with eToro TodayIf you would like to get the latest news on your investment in Sofi Technologies, create your watchlist below.
More "How To" Guides You May Enjoy
FAQ
Company
AboutNewsBlogStock Investing FAQPlansPrivacy PolicyTerms of ServiceCancellation & RefundsHelp GuidesContactTwitterYouTubeNewsletterInformation is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.