SoFi Technologies (SOFI)
Market Price (6/21/2026): $17.88 | Market Cap: $22.8 BilSector: Financials | Industry: Consumer Finance
SoFi Technologies (SOFI)
Market Price (6/21/2026): $17.88Market Cap: $22.8 BilSector: FinancialsIndustry: Consumer Finance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 13% Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 5.6% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 40x Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -154%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -161% Key risksSOFI key risks include [1] heightened credit risk from its significant concentration in unsecured personal loans and [2] regulatory scrutiny stemming from its crypto operations and past compliance failures. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -20% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35% |
| Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 13% |
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 5.6% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 40x |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -154%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -161% |
| Key risksSOFI key risks include [1] heightened credit risk from its significant concentration in unsecured personal loans and [2] regulatory scrutiny stemming from its crypto operations and past compliance failures. |
Qualitative Assessment
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SoFi Technologies (SOFI) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Strong Q1 2026 Financial Results Were Offset by Conservative Full-Year Guidance. SoFi reported robust financial performance for fiscal Q1 2026, which ended in March 2026. The company announced record GAAP net revenue of $1.1 billion, a 43% increase year-over-year, and diluted earnings per share (EPS) of $0.12, which met analyst expectations and doubled from the prior year. Additionally, SoFi achieved record member growth, adding 1.055 million new members to reach 14.7 million, and record loan originations totaling $12.2 billion. Despite these strong results, management chose to maintain its previously issued full-year 2026 guidance, projecting approximately 30% adjusted net revenue growth to $4.655 billion and adjusted EPS of around $0.60. This decision to "beat and maintain" rather than raise guidance disappointed investors, contributing to the stock's inability to appreciate significantly post-earnings.
2. The Underperformance of the Technology Platform Segment Weighed on Overall Sentiment. While SoFi's Lending and Financial Services segments demonstrated strong growth in fiscal Q1 2026, the Technology Platform segment experienced a notable decline. Revenue from this segment fell 27% year-over-year to $75.1 million, and the number of enabled accounts decreased by 16%. This underperformance was primarily attributed to a large client transitioning off the platform prior to the end of fiscal Q4 2025. The weakness in a segment considered crucial for SoFi's "everything app" strategy created concern among investors, countering the positive momentum from other business areas and fueling bearish arguments.
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SoFi Technologies (SOFI) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Strong Q1 2026 Financial Results Were Offset by Conservative Full-Year Guidance. SoFi reported robust financial performance for fiscal Q1 2026, which ended in March 2026. The company announced record GAAP net revenue of $1.1 billion, a 43% increase year-over-year, and diluted earnings per share (EPS) of $0.12, which met analyst expectations and doubled from the prior year. Additionally, SoFi achieved record member growth, adding 1.055 million new members to reach 14.7 million, and record loan originations totaling $12.2 billion. Despite these strong results, management chose to maintain its previously issued full-year 2026 guidance, projecting approximately 30% adjusted net revenue growth to $4.655 billion and adjusted EPS of around $0.60. This decision to "beat and maintain" rather than raise guidance disappointed investors, contributing to the stock's inability to appreciate significantly post-earnings.
2. The Underperformance of the Technology Platform Segment Weighed on Overall Sentiment. While SoFi's Lending and Financial Services segments demonstrated strong growth in fiscal Q1 2026, the Technology Platform segment experienced a notable decline. Revenue from this segment fell 27% year-over-year to $75.1 million, and the number of enabled accounts decreased by 16%. This underperformance was primarily attributed to a large client transitioning off the platform prior to the end of fiscal Q4 2025. The weakness in a segment considered crucial for SoFi's "everything app" strategy created concern among investors, countering the positive momentum from other business areas and fueling bearish arguments.
3. Persistent Macroeconomic Headwinds, Including Higher-for-Longer Interest Rate Expectations, Limited Upside. The broader macroeconomic environment, characterized by ongoing inflation and the Federal Reserve's stance on interest rates, continued to exert pressure on high-growth fintech stocks like SoFi. Expectations for interest rates to remain "higher for longer" have negatively impacted market sentiment for financial technology companies, limiting their valuation multiples. The Consumer Price Index rising in May at its fastest pace in three years further reduced the likelihood of near-term rate cuts, which would typically benefit banking and lending entities by potentially lowering funding costs or increasing demand for credit. This general market caution, coupled with SoFi's beta sensitivity, contributed to the stock's largely sideways movement in the specified period.
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Stock Movement Drivers
Fundamental Drivers
The 0.8% change in SOFI stock from 2/28/2026 to 6/20/2026 was primarily driven by a 9.9% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 6202026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.76 | 17.91 | 0.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,613 | 3,942 | 9.1% |
| Net Income Margin (%) | 13.3% | 14.6% | 9.9% |
| P/E Multiple | 45.1 | 39.6 | -12.2% |
| Shares Outstanding (Mil) | 1,224 | 1,276 | -4.1% |
| Cumulative Contribution | 0.8% |
Market Drivers
2/28/2026 to 6/20/2026| Return | Correlation | |
|---|---|---|
| SOFI | 0.8% | |
| Market (SPY) | 9.2% | 55.0% |
| Sector (XLF) | 4.7% | 41.8% |
Fundamental Drivers
The -39.7% change in SOFI stock from 11/30/2025 to 6/20/2026 was primarily driven by a -27.1% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6202026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.72 | 17.91 | -39.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,322 | 3,942 | 18.6% |
| Net Income Margin (%) | 19.3% | 14.6% | -24.1% |
| P/E Multiple | 54.4 | 39.6 | -27.1% |
| Shares Outstanding (Mil) | 1,171 | 1,276 | -8.2% |
| Cumulative Contribution | -39.7% |
Market Drivers
11/30/2025 to 6/20/2026| Return | Correlation | |
|---|---|---|
| SOFI | -39.7% | |
| Market (SPY) | 9.9% | 53.7% |
| Sector (XLF) | 1.3% | 41.5% |
Fundamental Drivers
The 34.7% change in SOFI stock from 5/31/2025 to 6/20/2026 was primarily driven by a 40.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312025 | 6202026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.30 | 17.91 | 34.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,798 | 3,942 | 40.9% |
| Net Income Margin (%) | 17.2% | 14.6% | -15.0% |
| P/E Multiple | 30.3 | 39.6 | 30.7% |
| Shares Outstanding (Mil) | 1,098 | 1,276 | -14.0% |
| Cumulative Contribution | 34.7% |
Market Drivers
5/31/2025 to 6/20/2026| Return | Correlation | |
|---|---|---|
| SOFI | 34.7% | |
| Market (SPY) | 28.1% | 58.0% |
| Sector (XLF) | 6.7% | 42.3% |
Fundamental Drivers
The 158.1% change in SOFI stock from 5/31/2023 to 6/20/2026 was primarily driven by a 129.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6202026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.94 | 17.91 | 158.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,715 | 3,942 | 129.8% |
| P/S Multiple | 3.8 | 5.8 | 54.2% |
| Shares Outstanding (Mil) | 929 | 1,276 | -27.2% |
| Cumulative Contribution | 158.1% |
Market Drivers
5/31/2023 to 6/20/2026| Return | Correlation | |
|---|---|---|
| SOFI | 158.1% | |
| Market (SPY) | 85.7% | 58.9% |
| Sector (XLF) | 77.0% | 50.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SOFI Return | 27% | -71% | 116% | 55% | 70% | -33% | 40% |
| Peers Return | 31% | -45% | 15% | 66% | 51% | -8% | 92% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| SOFI Win Rate | 33% | 25% | 50% | 50% | 75% | 33% | |
| Peers Win Rate | 52% | 40% | 50% | 57% | 57% | 37% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SOFI Max Drawdown | -47% | -73% | -42% | -36% | -47% | -48% | |
| Peers Max Drawdown | -32% | -57% | -43% | -24% | -36% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PYPL, ALLY, HOOD, SCHW, LC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | SOFI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.3% | -18.8% |
| % Gain to Breakeven | 70.3% | 23.1% |
| Time to Breakeven | 79 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.1% | -9.5% |
| % Gain to Breakeven | 41.0% | 10.5% |
| Time to Breakeven | 24 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -29.6% | -6.7% |
| % Gain to Breakeven | 42.0% | 7.1% |
| Time to Breakeven | 15 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -69.3% | -24.5% |
| % Gain to Breakeven | 226.0% | 32.4% |
| Time to Breakeven | 773 days | 427 days |
In The Past
SoFi Technologies's stock fell -41.3% during the 2025 US Tariff Shock. Such a loss loss requires a 70.3% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | SOFI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.3% | -18.8% |
| % Gain to Breakeven | 70.3% | 23.1% |
| Time to Breakeven | 79 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.1% | -9.5% |
| % Gain to Breakeven | 41.0% | 10.5% |
| Time to Breakeven | 24 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -29.6% | -6.7% |
| % Gain to Breakeven | 42.0% | 7.1% |
| Time to Breakeven | 15 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -69.3% | -24.5% |
| % Gain to Breakeven | 226.0% | 32.4% |
| Time to Breakeven | 773 days | 427 days |
In The Past
SoFi Technologies's stock fell -41.3% during the 2025 US Tariff Shock. Such a loss loss requires a 70.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About SoFi Technologies (SOFI)
SoFi Technologies, Inc. (SOFI) is a digital financial services company that aims to be a comprehensive financial hub for its members. The company provides a wide array of products and services designed to help individuals borrow, save, spend, invest, and protect their money, all through a streamlined digital experience. SoFi operates across three main segments: Lending, Technology Platform, and Financial Services.
For its individual members, SoFi offers a robust suite of lending products, including student loans, personal loans for various needs like debt consolidation and home improvement, and home loans. Beyond borrowing, members can access financial services such as cash management solutions and investment services to grow and manage their wealth. These offerings primarily target consumers seeking an all-in-one digital platform for their personal financial needs.
In addition to its direct-to-consumer services, SoFi extends its reach by providing critical technology infrastructure to other businesses. Through its Technology Platform segment, SoFi operates Galileo, a platform offering services to both financial and non-financial institutions. It also includes Apex, which provides investment custody and clearing brokerage services, and Technisys, a cloud-based digital multi-product core banking platform. These business-to-business (B2B) platforms serve institutional clients, enabling them to build and power their own financial products and services.
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Here are a few brief analogies for SoFi Technologies:
It's like a digital-first JPMorgan Chase, offering banking, investing, and all types of loans (student, personal, home) in one unified app.
Imagine a "financial super app" for consumers, combining banking, investing, lending, and budgeting like a modern Fidelity, but also providing core technology platforms to other financial institutions.
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SoFi Technologies (SOFI) provides the following major products and services:
- Student Loans: Loans offered to members for education financing.
- Personal Loans: Loans available for various purposes, including debt consolidation and home improvement projects.
- Home Loans: Mortgage loans for purchasing or refinancing homes.
- Cash Management Services: Services that allow members to manage their everyday cash, similar to checking and savings accounts.
- Investment Services: Platforms and tools enabling members to invest their money in various financial instruments.
- Galileo: A technology platform that offers services to other financial and non-financial institutions.
- Apex: A technology-enabled platform specializing in investment custody and clearing brokerage services for institutions.
- Technisys: A cloud-based digital multi-product core banking platform for institutional clients.
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SoFi Technologies primarily sells its direct financial products and services to individuals. The company's customer base can be broadly categorized into the following three groups:
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Borrowers: Individuals seeking various types of loans, including student loans (for refinancing), personal loans (for purposes such as debt consolidation and home improvement), and home loans.
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Savers and Spenders: Individuals who utilize SoFi's cash management services for their everyday banking and spending needs.
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Investors: Individuals who use SoFi's platforms to invest their money, accessing various investment products and services.
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- Amazon (AMZN)
- Visa (V)
- Mastercard (MA)
- Equifax (EFX)
- Experian (EXPN.L)
- TransUnion (TRU)
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Anthony Noto, Chief Executive Officer
Anthony Noto has served as CEO of SoFi since February 2018, overseeing its expansion from a student-loan refinancing startup into a diversified financial services platform. Noto previously held high-profile leadership roles including Chief Operating Officer and Chief Financial Officer at Twitter (2014-2018), co-head of global TMT investment banking at Goldman Sachs, and Executive Vice President and Chief Financial Officer of the National Football League (2008-2010). He led the acquisition of Technisys for SoFi.
Chris Lapointe, Chief Financial Officer
Chris Lapointe has been the Chief Financial Officer of SoFi since April 2020. He was instrumental in SoFi's successful public listing in June 2021. Prior to joining SoFi in 2018, he worked as Global Head of Corporate Finance at Uber and held investment banking roles, including Vice President of TMT Investment Banking, at Goldman Sachs.
Jeremy Rishel, Chief Technology Officer
Jeremy Rishel has been SoFi's Chief Technology Officer since 2021. He is responsible for the company's technology strategy, architecture, and investment in emerging technology. He has championed the migration to a microservices architecture and spearheaded SoFi's AI-driven personalization engine. His career began as a software engineer at LivePerson, and he co-founded a startup that was later acquired by Salesforce. He also held leadership roles at Splunk, DoorDash, and Twitter.
Eric Schuppenhauer, EVP, Group Business Unit Leader, Borrow
Eric Schuppenhauer oversees SoFi's lending businesses, including home loans and student loan refinancing. Previously, he held executive positions in mortgage and lending at Citizens Financial, Capital One, and JPMorgan. He is a certified public accountant.
Arun Pinto, Chief Risk Officer
Arun Pinto has served as Chief Risk Officer since 2020, where he established SoFi's enterprise risk management program, integrating credit, market, and operational risk. He led risk oversight for the launch of SoFi Bank. His background includes serving as Chief Risk Officer at HamsaPay, SVP at the Federal Reserve Bank of San Francisco, and Managing Director at Citi.
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The key risks to SoFi Technologies (SOFI) are:
-
Credit Risk and Economic Downturn: SoFi's significant exposure to its lending business, particularly unsecured personal loans, makes it highly vulnerable to economic downturns, rising interest rates, or a weakening labor market. These conditions could lead to increased loan defaults and necessitate higher provisions for credit losses, directly impacting the company's profitability.
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Regulatory Scrutiny and Compliance: As a nationally chartered bank and a provider of diverse financial services, SoFi operates within a complex and evolving regulatory landscape. Increased scrutiny from financial regulators, changes in existing regulations, or challenges related to compliance (including past concerns regarding crypto activities or regulatory capital treatment) pose substantial risks to its operations, product offerings, and reputation.
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Intense Competition: SoFi operates in a highly competitive fintech environment. It faces competition from both traditional banks and other rapidly evolving digital financial service providers. This intense competition across its lending, technology platform, and financial services segments could pressure its ability to attract and retain customers, maintain pricing power, and achieve its growth targets.
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The clear emerging threat to SoFi Technologies is the ongoing and expanding penetration of large technology companies (such as Apple, Google, and Amazon) into core financial services. These companies are leveraging their massive existing user bases, extensive data, and established digital ecosystems to offer financial products and services, including high-yield savings accounts, buy now pay later (BNPL) options, payment solutions, and potentially other lending and investment services. This trend threatens SoFi's ambition to be a primary, integrated digital financial services hub by providing alternative, deeply embedded financial solutions within platforms that consumers already use extensively for non-financial purposes, potentially diminishing the need for a standalone financial super-app like SoFi.
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SoFi Technologies (SOFI) operates within several large and growing addressable markets for its main products and services. The market sizes are identified as follows:
Lending Segment
- Student Loans: The total student loan debt in the United States totals approximately $1.81 trillion. Private student loans, a component of this, reached $144.86 billion as of September 2025. The global student loan market was valued at $3,933.18 billion in 2021 and is estimated to reach $8,750.75 billion by 2031.
- Personal Loans: The U.S. personal loans market was valued at USD 93.16 billion in 2025 and is expected to reach USD 192.79 billion by 2033. Americans owed $276 billion in personal loan debt as of the fourth quarter of 2025. Globally, the personal loans market size was valued at USD 320.73 billion in 2025 and is expected to reach USD 674.13 billion by 2033.
- Home Loans: The U.S. home loan market is estimated at USD 2.42 trillion in 2026 and is forecasted to grow to USD 3.17 trillion by 2031. Total single-family mortgage origination volume in the U.S. is expected to increase to $2.2 trillion in 2026 from $2.0 trillion in 2025.
Technology Platform Segment (Galileo, Technisys, Apex)
- Banking-as-a-Service (BaaS) & Cloud Core Banking Platforms: The global Banking-as-a-Service (BaaS) market was valued at approximately USD 32.49 billion in 2024 and is projected to reach USD 86.00 billion by 2033. Other estimates place the global BaaS market at around USD 35–45 billion in 2026, with projections suggesting it could reach USD 75–90 billion by 2030–2031. The global cloud core banking platform market generated USD 1.6 billion in 2025 and is predicted to register growth to about USD 11.1 billion by 2035. The global core banking solutions market size was valued at USD 16.71 billion in 2024 and is expected to reach USD 37.42 billion by 2032. North America held a dominant position in the global cloud core banking platform market, capturing more than a 36.7% share in 2025, with the U.S. market valued at USD 0.53 billion.
- Investment Custody Services: The global custody service market was valued at USD 42.21 billion in 2025 and is projected to grow to USD 60.32 billion by 2031. Another report indicates the custody service market size expanded from $45.19 billion in 2024 to an anticipated $48.84 billion in 2025, with projections to reach $69.31 billion by 2029.
- Clearing Brokerage Services: The global securities brokerages and stock exchanges market was worth around USD 917.82 billion in 2024 and is predicted to grow to around USD 2532.93 billion by 2034. The global brokerage services market is projected to expand from $39,163.5 million by the end of 2025 to $69,231.1 million by 2033.
Financial Services Segment
- Cash Management: The global cash management system market was valued at $3.7 billion in 2023 and is projected to reach $13.2 billion by 2032. Other estimates place the global cash management system market at USD 17.6 billion in 2024, projected to reach USD 36.92 billion by 2030.
- Investment (Online Investment Platforms): The global online investment platform market size was estimated at USD 2,088.1 million in 2022 and is projected to reach USD 5,897.7 million by 2030. North America accounted for 32.4% of the global online investment platform market in 2022.
The overall global fintech market, which encompasses many of SoFi's offerings, was valued at USD 394.88 billion in 2025 and is projected to be worth USD 1,760.18 billion by 2034. North America dominated the global fintech market with a share of 32.30% in 2025.
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SoFi Technologies (SOFI) is expected to drive future revenue growth over the next 2-3 years through several key initiatives across its integrated financial services platform:
- Growing Membership and Cross-Product Adoption: SoFi emphasizes a "one-stop shop" strategy, aiming to attract new members and encourage existing members to utilize more of its diverse product offerings, including borrowing, saving, spending, and investing. This strategy is expected to drive increased product adoption and deepen member engagement. The company reported record new member additions in recent quarters, with total members exceeding 13.7 million by the end of 2025. Approximately 40% of new products in Q3 2025 were opened by existing SoFi members, demonstrating the effectiveness of cross-selling within its integrated model.
- Expansion of Capital-Light, Fee-Based Revenue Streams: SoFi is strategically shifting towards a more diversified revenue mix by increasing its capital-light and fee-based income. This includes robust growth in its Financial Services segment from areas like interchange revenue, brokerage fees, and products such as SoFi Money, Relay, and Invest. Fee-based revenue across all segments reached a record $443 million in Q4 2025, reflecting a 53% year-over-year increase.
- Growth of the Technology Platform and Loan Platform Business (LPB): The Technology Platform segment, which includes Galileo and Technisys, provides services to financial and non-financial institutions, generating recurring revenue from software and transaction services. While the segment saw a client transition off the platform in late 2025, management anticipates continued growth through monetization of existing clients and new deals. Additionally, the Loan Platform Business (LPB), where SoFi originates loans for third parties, is a significant contributor to fee-based revenue within the lending segment.
- Sustained Performance and Originations in the Lending Segment: Despite diversification efforts, SoFi's core Lending segment, encompassing personal, student, and home loans, remains a substantial revenue driver. The company has reported strong origination volumes, with record total loan originations of $10.5 billion in Q4 2025, driven by personal loans, student loans, and a significant increase in home loans. This continued demand for its lending products is expected to contribute meaningfully to future revenue.
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Share Repurchases
- SoFi Technologies has not reported any significant share repurchase activity over the last 3-5 years, with reported share buybacks being $0.00 as of March 2026.
Share Issuance
- In December 2025, SoFi announced an underwritten public offering of approximately $1.5 billion in common stock, consisting entirely of new shares.
- This offering was completed on January 5, 2026, with the sale of 57,754,660 shares at $27.50 per share, including shares sold through an underwriters' option.
- Combined with a previous equity offering on July 29, 2025, SoFi generated $3.3 billion in gross proceeds by issuing 82.73 million shares in the first transaction and 57.75 million shares in the second. These capital raises in 2025 resulted in a dilution of shares by approximately 16% in six months.
Outbound Investments
- SoFi acquired Technisys, a cloud-native, digital multi-product core banking platform, for approximately $1.1 billion in an all-stock deal (84 million shares) in February 2022. The acquisition was completed in March 2022 and was aimed at bolstering its technology platform and integrating with its Galileo business.
- In March 2021, SoFi acquired Golden Pacific Bancorp Inc. for $22.3 million, which led to SoFi obtaining a national bank charter in 2022.
- SoFi acquired Wyndham Capital Mortgage, an online platform for residential mortgage loans, in April 2023 for an undisclosed amount.
Capital Expenditures
- SoFi's annual capital expenditures were $251.117 million in 2025, marking a 53.10% increase from the previous year.
- Annual capital expenditures were $163.617 million in 2024 and $121.192 million in 2023.
- Capital expenditures are broadly focused on investments in technology capabilities and the migration of infrastructure from on-premise to cloud.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 44.00 |
| Mkt Cap | 30.8 |
| Rev LTM | 6,990 |
| Op Inc LTM | 4,248 |
| FCF LTM | 1,486 |
| FCF 3Y Avg | 1,005 |
| CFO LTM | 3,597 |
| CFO 3Y Avg | 2,771 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 23.3% |
| Rev Chg 3Y Avg | 6.3% |
| Rev Chg Q | 15.8% |
| QoQ Delta Rev Chg LTM | 3.6% |
| Op Inc Chg LTM | 37.5% |
| Op Inc Chg 3Y Avg | 178.5% |
| Op Mgn LTM | 32.6% |
| Op Mgn 3Y Avg | 24.4% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 30.2% |
| CFO/Rev 3Y Avg | 24.1% |
| FCF/Rev LTM | 8.2% |
| FCF/Rev 3Y Avg | 12.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 30.8 |
| P/S | 4.0 |
| P/Op Inc | 25.8 |
| P/EBIT | 25.7 |
| P/E | 14.8 |
| P/CFO | 4.7 |
| Total Yield | 6.9% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.1% |
| D/E | 0.2 |
| Net D/E | -0.3 |
Price Behavior
| Market Price | $17.91 | |
| Market Cap ($ Bil) | 22.9 | |
| First Trading Date | 11/30/2020 | |
| Distance from 52W High | -44.4% | |
| 50 Days | 200 Days | |
| DMA Price | $16.94 | $22.70 |
| DMA Trend | down | down |
| Distance from DMA | 5.7% | -21.1% |
| 3M | 1YR | |
| Volatility | 58.8% | 56.3% |
| Downside Capture | 389.57 | 316.14 |
| Upside Capture | 228.84 | 250.22 |
| Correlation (SPY) | 57.5% | 57.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.12 | 2.50 | 1.79 | 2.08 | 2.68 | 2.34 |
| Up Beta | -1.03 | 0.73 | 0.91 | 1.72 | 2.44 | 1.96 |
| Down Beta | 2.68 | -0.43 | 0.53 | 1.05 | 2.96 | 2.34 |
| Up Capture | 295% | 293% | 241% | 190% | 513% | 5910% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 23 | 31 | 53 | 126 | 377 |
| Down Capture | 325% | 667% | 264% | 253% | 186% | 113% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 18 | 32 | 71 | 123 | 368 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SOFI | |
|---|---|---|---|---|
| SOFI | 17.0% | 56.2% | 0.49 | - |
| Sector ETF (XLF) | 8.3% | 14.6% | 0.33 | 41.9% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 58.9% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 20.9% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -0.4% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 16.2% |
| Bitcoin (BTCUSD) | -40.0% | 42.5% | -1.08 | 43.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SOFI | |
|---|---|---|---|---|
| SOFI | -5.5% | 66.7% | 0.19 | - |
| Sector ETF (XLF) | 9.3% | 18.6% | 0.37 | 43.9% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 53.9% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 10.0% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 9.1% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 39.8% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 31.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SOFI | |
|---|---|---|---|---|
| SOFI | 4.9% | 71.9% | 0.42 | - |
| Sector ETF (XLF) | 13.0% | 22.2% | 0.54 | 38.5% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 48.8% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 9.6% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 8.7% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 35.2% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 27.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/29/2026 | -15.4% | -12.7% | -7.6% |
| 1/30/2026 | -6.4% | -20.1% | -24.5% |
| 10/28/2025 | 5.5% | 2.1% | -5.6% |
| 7/29/2025 | 6.6% | 3.8% | 21.9% |
| 4/29/2025 | 0.5% | -2.6% | 0.9% |
| 1/27/2025 | -10.3% | -11.9% | -22.3% |
| 10/29/2024 | -6.4% | -2.5% | 38.4% |
| 7/30/2024 | 1.2% | -10.8% | 6.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 8 | 8 |
| # Negative | 7 | 12 | 12 |
| Median Positive | 5.5% | 9.5% | 13.7% |
| Median Negative | -10.5% | -11.8% | -12.6% |
| Max Positive | 28.4% | 34.3% | 38.4% |
| Max Negative | -15.4% | -20.8% | -26.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/29/2026 | -15.4% | -12.7% | -7.6% |
| 1/30/2026 | -6.4% | -20.1% | -24.5% |
| 10/28/2025 | 5.5% | 2.1% | -5.6% |
| 7/29/2025 | 6.6% | 3.8% | 21.9% |
| 4/29/2025 | 0.5% | -2.6% | 0.9% |
| 1/27/2025 | -10.3% | -11.9% | -22.3% |
| 10/29/2024 | -6.4% | -2.5% | 38.4% |
| 7/30/2024 | 1.2% | -10.8% | 6.0% |
| 4/29/2024 | -10.5% | -11.6% | -12.5% |
| 1/29/2024 | 20.2% | 3.4% | 20.1% |
| 10/30/2023 | 1.0% | 16.6% | 6.8% |
| 7/31/2023 | 19.9% | -0.5% | -13.8% |
| 5/1/2023 | -12.2% | -17.2% | -3.2% |
| 1/30/2023 | 12.5% | 25.6% | 11.1% |
| 11/1/2022 | 5.3% | -4.8% | -11.2% |
| 8/2/2022 | 28.4% | 15.3% | -7.6% |
| 5/10/2022 | 4.6% | 34.3% | 16.4% |
| 3/1/2022 | 3.4% | -13.2% | -12.8% |
| 11/10/2021 | 12.5% | 3.4% | -26.5% |
| 8/12/2021 | -14.1% | -20.8% | -14.0% |
| SUMMARY STATS | |||
| # Positive | 13 | 8 | 8 |
| # Negative | 7 | 12 | 12 |
| Median Positive | 5.5% | 9.5% | 13.7% |
| Median Negative | -10.5% | -11.8% | -12.6% |
| Max Positive | 28.4% | 34.3% | 38.4% |
| Max Negative | -15.4% | -20.8% | -26.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 4/29/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Adjusted Net Revenue Growth | 30.0% | Higher New | |||||
| Q2 2026 Adjusted EBITDA Margin | 30.0% | Higher New | |||||
| Q2 2026 Adjusted Net Income Margin | 12.0% | 12.5% | 13.0% | Higher New | |||
| 2026 Total Member Growth | 30.0% | 0 | Affirmed | Guidance: 30.0% for 2026 | |||
| 2026 Revenue | 4.66 Bil | 0 | Affirmed | Guidance: 4.66 Bil for 2026 | |||
| 2026 Revenue Growth | 30.0% | Higher New | |||||
| 2026 Adjusted EBITDA | 1.60 Bil | 0 | Affirmed | Guidance: 1.60 Bil for 2026 | |||
| 2026 Operating Margin | 34.0% | Higher New | |||||
| 2026 Net Income | 825.00 Mil | 0 | Affirmed | Guidance: 825.00 Mil for 2026 | |||
| 2026 EPS | 0.6 | 0 | Affirmed | Guidance: 0.6 for 2026 | |||
Prior: Q4 2025 Earnings Reported 1/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Adjusted Net Revenue | 1.04 Bil | ||||||
| Q1 2026 Adjusted EBITDA | 300.00 Mil | ||||||
| Q1 2026 Adjusted Net Income | 160.00 Mil | ||||||
| Q1 2026 Adjusted EPS | 0.12 | ||||||
| 2026 Total Members Growth | 30.0% | ||||||
| 2026 Adjusted Net Revenue | 4.66 Bil | 31.5% | Higher New | Guidance: 3.54 Bil for 2025 | |||
| 2026 Adjusted EBITDA | 1.60 Bil | 54.6% | Higher New | Guidance: 1.03 Bil for 2025 | |||
| 2026 Adjusted Net Income | 825.00 Mil | 81.3% | Higher New | Guidance: 455.00 Mil for 2025 | |||
| 2026 Adjusted EPS | 0.6 | 62.2% | Higher New | Guidance: 0.37 for 2025 | |||
Insider Activity
Updated 6/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rishel, Jeremy | Chief Technology Officer | Direct | Sell | 6172026 | 17.78 | 102,123 | 1,815,747 | 15,914,690 | Form |
| 2 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 6162026 | 18.06 | 13,888 | 250,787 | 215,980,443 | Form |
| 3 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 5222026 | 15.53 | 10,037 | 155,921 | 5,021,513 | Form |
| 4 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 5112026 | 16.00 | 15,545 | 248,781 | 191,192,496 | Form |
| 5 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 5082026 | 15.73 | 15,878 | 249,769 | 187,681,760 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rishel, Jeremy | Chief Technology Officer | Direct | Sell | 6172026 | 17.78 | 102,123 | 1,815,747 | 15,914,690 | Form |
| 2 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 6162026 | 18.06 | 13,888 | 250,787 | 215,980,443 | Form |
| 3 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 5222026 | 15.53 | 10,037 | 155,921 | 5,021,513 | Form |
| 4 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 5112026 | 16.00 | 15,545 | 248,781 | 191,192,496 | Form |
| 5 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 5082026 | 15.73 | 15,878 | 249,769 | 187,681,760 | Form |
| 6 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 4232026 | 19.25 | 9,742 | 187,551 | 6,416,317 | Form |
| 7 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 3202026 | 16.94 | 9,742 | 165,066 | 5,812,164 | Form |
| 8 | Rishel, Jeremy | Chief Technology Officer | Direct | Sell | 3182026 | 17.43 | 94,958 | 1,655,118 | 14,634,925 | Form |
| 9 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 3172026 | 17.32 | 28,900 | 500,516 | 202,706,502 | Form |
| 10 | Noto, Anthony | Chief Executive Officer | Direct | Buy | 3022026 | 17.88 | 56,000 | 1,001,515 | 208,806,119 | Form |
| 11 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 2202026 | 18.87 | 9,755 | 184,118 | 5,543,824 | Form |
| 12 | Freiberg, Steven J | Direct | Sell | 2092026 | 20.31 | 94,225 | 1,913,710 | 11,959,523 | Form | |
| 13 | Schuppenhauer, Eric | EVP GBUL Borrow | Direct | Buy | 2052026 | 19.93 | 5,000 | 99,650 | 4,559,342 | Form |
| 14 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 1222026 | 25.75 | 9,468 | 243,797 | 7,814,489 | Form |
| 15 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 12232025 | 27.14 | 9,468 | 256,948 | 8,492,971 | Form |
| 16 | Rishel, Jeremy | Chief Technology Officer | Direct | Sell | 12222025 | 26.64 | 91,837 | 2,446,538 | 21,168,090 | Form |
| 17 | Pinto, Arun | Chief Risk Officer | Direct | Sell | 11212025 | 24.76 | 46,132 | 1,142,219 | 3,426,657 | Form |
| 18 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 11212025 | 26.43 | 10,340 | 273,296 | 7,005,087 | Form |
| 19 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 10222025 | 28.33 | 10,036 | 284,277 | 7,800,161 | Form |
| 20 | Rishel, Jeremy | Chief Technology Officer | Direct | Sell | 9192025 | 27.50 | 98,733 | 2,715,158 | 20,887,708 | Form |
| 21 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 9192025 | 27.86 | 10,036 | 279,619 | 7,951,979 | Form |
| 22 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 8212025 | 22.13 | 10,578 | 234,041 | 5,191,082 | Form |
| 23 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 7212025 | 21.80 | 10,267 | 223,773 | 5,344,232 | Form |
| 24 | Keough, Kelli | EVP, GBUL, SIPS | Direct | Sell | 6242025 | 15.22 | 10,267 | 156,288 | 3,888,821 | Form |
| 25 | Rishel, Jeremy | Chief Technology Officer | Direct | Sell | 6242025 | 15.55 | 66,847 | 1,039,471 | 11,263,192 | Form |
| 26 | Yesil, Magdalena | Spouse | Sell | 6122025 | 14.39 | 87,140 | 1,254,040 | 4,162,741 | Form | |
| 27 | Yesil, Magdalena | Spouse | Sell | 6122025 | 13.95 | 87,140 | 1,215,760 | 5,251,430 | Form |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Consumer Finance Resources |
| Consumer Financial Protection Bureau (CFPB) |
| InsideARM |
| The Nilson Report |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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