In the latest trading session, SoFi Technologies, Inc. (SOFI) closed at $7.73, marking a -1.28% move from the previous day. This change lagged the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a loss of 0.7%, and the technology-centric Nasdaq increased by 0.04%. Heading into today, shares of the company had gained 0.77% over the past month, lagging the Finance sector's gain of 1.52% and the S&P 500's gain of 1.95% in that time. The investment community will be closely monitoring the p ...

Core Viewpoint - Cathie Wood's Ark Innovation ETF (ARKK) has gained over 20% in the past year, focusing on stocks involved in disruptive innovation, with SoFi Technologies, Inc. (SOFI) being a notable example [1] Company Overview - SoFi Technologies, Inc. has evolved from a student-loan provider to a versatile fintech company, yet its stock has underperformed the Technology Services industry year to date, down 20.4% compared to the industry's gain of 25.1% [2] - The underperformance is attributed to elevated interest rates impacting SoFi's lending business, which generates the majority of its revenue [2] Interest Rate Impact - The Federal Reserve recently cut interest rates by 50 basis points, maintaining key rates between 4.75% and 5%, marking the first easing of monetary policy in four years [3] - Further rate cuts are anticipated, with notable investment banks expecting additional reductions in 2025 and 2026 [4] - A lower interest rate environment is expected to reduce SoFi's borrowing costs, enabling more investment in technology and enhancing its lending business [5] Lending Business Prospects - As borrowing costs decrease, consumer spending is likely to increase, positively impacting SoFi's lending segments, including home equity, home lending, and purchase loans [6] - SoFi has improved its small and medium-scale business lending platform and is focusing on secured lending products to mitigate risks [7] Growth Initiatives - SoFi is diversifying its financial services beyond lending, with an investment platform offering various products, positioning the company for future expansion [8] - The introduction of multiple products is expected to enhance operating income and profitability, with initiatives in credit cards and a growing demand for the SOFI Plus premium membership program [9] Stock Outlook - The Zacks Consensus Estimate for SOFI's earnings per share is projected at 10 cents, reflecting a 233.3% increase from the previous year [10] - Prominent brokers have raised the average short-term price target for SOFI by 7.2%, with the highest target at $12, indicating a potential upside of 49.1% from the last closing price of $8.05 [11]

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NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) -- SoFi, a leading provider of thematic and income ETFs, today announced monthly distributions on the SoFi Enhanced Yield ETF (THTA). Distribution as of 09/16/2024 ETF Ticker Distribution per Share Distribution Rate * 30-Day SEC Yield** Ex-Date Record Date Payment Date THTA $0.1422 9.00% 4.50% 09/17/2024 09/17/2024 09/18/2024 Inception date: 11/15/2023 Click here to view standardized performance for THTA. THTA, launched in partnership with Tidal Investments LLC and ...

Khomkrid Khamsankhod/iStock via Getty Images Introduction I published a 'Strong Buy' thesis for SoFi Technologies (NASDAQ:SOFI) in June. I am moderately happy because the stock price increased by 4.4% since my recommendation was published. The number of physical bank branches in the U.S. is poised to continue deteriorating because customers' preferences are changing as modern technologies allow them to complete routine tasks with smartphone apps. SoFi's strong revenue growth during the unfavorable monetary ...

SoFi Technologies, Inc. (NASDAQ:SOFI) Goldman Sachs Communacopia & Technology Conference 2024 September 9, 2024 2:30 PM ET Company Participants Anthony Noto - CEO Conference Call Participants Michael Ng - Goldman Sachs Group Michael Ng Great. Well, thank you, everybody, for joining. Welcome to the SoFi presentation at the Goldman Sachs Communacopia and Technology Conference. I have the great privilege of introducing Anthony Noto, who's the CEO of SoFi, which he's been since 2018. Anthony joined SoFi after s ...

SoFi Technologies' (SOFI) stock has declined 29.5% in the year-to-date period against the 13.3% rally of the industry it belongs to and 14.5% growth of the Zacks S&P 500 composite. YTD Price Performance Image Source: Zacks Investment Research The company's fall is comparable with the performance of its competitors Edenred SE (EDNMY) , which has lost 31.6%, and TTEC Holdings, Inc. (TTEC) , which has plunged 79.3% over the same period. The SOFI stock has gained 8.2% over the past month, suggesting a reversal ...

SoFi's student loan business got some great news. SoFi's (SOFI 0.86%) shares bounced recently on news that student loans wouldn't be forgiven on a mass scale. That's great for the company's business, and Travis Hoium goes through why in this video. *Stock prices used were end-of-day prices of Aug. 30, 2024. The video was published on Sept. 3, 2024. ...

Sellers stepped up to start September, pushing the Nasdaq below its 50-day and 21-day moving averages. Investors are growing more nervous about the slowing U.S. economy, with signs of weakness across consumer spending and manufacturing popping up over the last several sessions. There could be more near-term selling and volatility as Wall Street waits for the Fed to officially start cutting rates when its two-day FOMC meeting ends on September 18. The presidential election cycle adds to the unknowns. Yet, th ...

Mihaela Rosu SOFI Investment Thesis Remains Dirt Cheap At Current Levels We previously covered SoFi Technologies (NASDAQ:NASDAQ:SOFI) in May 2024, discussing why we had maintained our Buy rating, due to the promising growth in its top/ bottom lines as the management executed the dual pronged growth as both an online bank and a fintech. At the same time, investors must also temper their near-term expectations, with the stock likely to trade sideways until the company achieves substantial GAAP EPS profitabili ...