SoFi stock ended 2024 strong, showing growth and profitability, with potential for stock surge

From Nasdaq: 2025-01-14 04:35:00

SoFi Technologies (NASDAQ: SOFI) stock ended 2024 on a high note, rising nearly 55% for the year after showing improved profitability, adding millions of new members, and growing its non-lending services. The company’s lending business also performed better than expected. SoFi’s upcoming fourth-quarter earnings report on Jan. 27 could lead to a stock surge if the company continues its trend of underpromising and overdelivering.

With a one-stop financial services platform, SoFi offers a range of services from banking to investments. Its non-lending segments are growing faster than lending, with revenue per product increasing from $53 to $81 year over year. The company’s strategy is working, and it aims to become the Amazon Web Services of financial services with its tech platform, Galileo.

SoFi stock has been on a rollercoaster ride following quarterly reports, with good news often followed by a dip. However, the company’s long-term growth potential remains strong, especially as it continues to attract new members and increase revenue across its various segments. Investors should consider the company’s track record of performance and growth before making any decisions.



Read more at Nasdaq: Here’s Why SoFi Stock Is a Buy Before Jan. 27