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Barchart
Barchart
Amit Singh

Up 118% in 6 Months, Is SoFi Stock a Buy, Sell, or Hold?

SOFI SoFi Technologies

Shares of SoFi Technologies (SOFI) have climbed more than 118% over the past six months. Behind this surge are the company’s consistently solid financial performances over the past several quarters. The fintech is attracting new members at a rapid pace and expanding the number of financial products customers use. This, in turn, is driving its financials and share price.

Adding to the positives is SoFi’s focus on revenue diversification. The company is moving toward more capital-light revenue streams, such as technology platform fees and financial services income. These areas lower the dependency on interest income and reduce credit risk. At the same time, SoFi’s lending division remains healthy thanks to solid loan originations and its strong deposit base, which keeps its funding costs lower.

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