SOFI Stock Summary and Trading Ideas (Sofi Techs | NASDAQ:SOFI)

SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking.

Sofi Techs trades on the NASDAQ stock market under the symbol SOFI.

As of May 3, 2024, SOFI stock price declined to $6.96 with 50,265,217 million shares trading.

SOFI has a beta of 2.93, meaning it tends to be more sensitive to market movements. SOFI has a correlation of 0.30 to the broad based SPY ETF.

SOFI has a market cap of $7.35 billion. This is considered a Mid Cap stock.

Last quarter Sofi Techs reported $581 million in Revenue and $.02 earnings per share. This beat revenue expectation by $25 million and exceeded earnings estimates by $.01.

The top ETF exchange traded funds that SOFI belongs to (by Net Assets): VTI, VB, VXF, VBK, ARKK.

SOFI has outperformed the market in the last year with a return of +43.5%, while the SPY ETF gained +27.0%. However, in the most recent history, SOFI shares have underperformed the stock market with its stock returning -11.7% in the last 3 month period and -2.1% for the last 2 week period, while SPY has returned +3.7% and +3.3%, respectively.

SOFI support price is $6.75 and resistance is $7.23 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SOFI stock will trade within this expected range on the day.