Yahoo Finance analysis recommends buying SoFi Technologies (SOFI) stock, citing strong customer and revenue growth despite platform revenue dip
Yahoo Finance analysis recommends buying SoFi Technologies (SOFI) stock, citing strong customer and revenue growth despite platform revenue dip. The online bank's total revenue soared 43% to $1.1 billion in Q1 and 40% to $1.2 billion in Q2, with customer count growing 35% year-over-year to 15.8 million. SoFi also raised its full-year revenue forecast to $4.75 billion-$4.85 billion. The analysis suggests the market has overreacted to the loss of Chime as a platform customer, overlooking SoFi's overall growth and strong positioning in the digital banking trend.
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