Sofi Technologies Shares Is SOFI a good investment? Price Forecast 2023-203

Sofi is expanding its deposit base, reflecting customer confidence and reducing financing costs. With impressive growth, Sofi can represent a significant growth opportunity for 2023. However, investors must consider their risk appetite before making investment decisions

The current share price of Sofi Technologies (NASDAQ: SOFI) is indicated at $8.7, with a target price forecast for 2023. Let’s review the company’s recent performance, forecasts, and milestones

Sofi Technologies Equity Performance

  • Last 5 Days: +7.8%
  • Last Month: -3.3%
  • Last 6 Months: +54.4%
  • Last 12 Months: +48.1%

Sofi Stock Price Forecasts for Next Year (Analysts)

  • Average Price: $9.5
  • Truist: $14
  • Morgan Stanley: $7
  • Keefe, Bruyette and Woods: $7.5
  • Sofi Stock Price Forecasts for the Next 4 Years

    • 2023 forecast: $7.56
    • 2024 forecast: $15.3
    • 2025 forecast: $21.7
    • 2026 Forecast: $23.5

    Sofi Stock Forecast Today

    UTC: November 20, 2023, 06:05 AM

    • 24 Hour Forecast: Between $6.69 and $6.92
    • Weekly Forecast: Between $6.55 and $7.19

    General Scenario and Future Perspectives

    UTC: November 20, 2023, 12:09 AM

    General Optimism

    1. Market Wisdom: Bullish
      • 1st. Market Data: Bullish
      • 1b. Technical Recommendation: Neutral
    2. Wisdom of the Masses: Bullish
      • 2nd. Social Media Frenzy: High
      • 2b. Social Media Sentiment: High

    Q3 2023 Financial Results and Projections for 2023

    In the third quarter of 2023, Sofi recorded an adjusted EBITDA of $98 million, an increase of 121% year-on-year. Other key figures include the addition of more than 717,000 new members and a 23% growth in total deposits to $15.7 billion. The new forecasts for 2023 indicate an adjusted net income of $2.045 — $2.065 billion and an adjusted EBITDA of $386 — $396

    Growth Plan and Challenges for Sofi

    Bullish scenario for Sofi Technologies:

    • Bank Concession: Obtaining a bank concession allows Sofi to collect and hold deposits, improving efficiency in lending operations.
    • Composition of the Loan Portfolio: Approximately 98% of Sofi’s loan portfolio consists of personal and studio loans, less affected by long-term interest rate fluctuations.

    Results Speak Better Than Words:

    • Sofi has diversified its product offering, attracting new members and maintaining significant growth in terms of revenues and members.

    Resumption of Student Payments:

    • With the end of the student payment pause period, Sofi could see an increase in revenues from refinancing student loans in 2023.

    Bearish scenario for Sofi Technologies:

    • Lack of Transparency on the Banking Strategy: Although the bank concession is positive, the lack of clarity on the banking strategy could create uncertainty among investors.

    Sofi: A Good Investment?

    Sofi is a financial technology company that offers a range of financial products, but it’s also a relatively new and still unprofitable company. If you’re looking for a growth-oriented investment, Sofi might be a good option. However, it’s important to carefully evaluate investment objectives and risk tolerance before making a decision

    Ultimately, investing in Sofi is a personal decision that requires a careful assessment of your needs and preferences.

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