SoFi's $6.4 Billion Forecast — What It Means for Investors? 🚨 #sofistock #sofi

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SOFI reported strong Q3 earnings, beating analyst expectations with revenue growth of 44% year-over-year, reaching $1.33 billion. Net revenue was $1.33 billion, a 44% increase. Adjusted EBITDA was $431 million. They reported adjusted EBITDA margin of 32%. They raised full-year guidance for 2023, expecting net revenue growth of 35-37% and adjusted EBITDA of $1.37-$1.41 billion. The company also reported $1.37 billion in adjusted net revenue, a 27% increase year-over-year, and adjusted EBITDA of $431 million with a 32% margin. Diluted EPS came in at $0.18, surpassing the $0.15 estimate. The key drivers of this growth were a 51% increase in lending revenue to $789 million and a 42% increase in financial services revenue to $537 million. The company added 433,000 new customers in Q3, bringing the total to 7.2 million. Management provided a positive outlook for 2024, projecting adjusted net revenue to grow between 27-37% year-over-year and adjusted EBITDA to be between $1.55-$1.73 billion, with margins between 32-34%. The company’s balance sheet shows significant growth in loans, with total loans outstanding increasing by 78% to $49.7 billion. Credit quality remains strong, with delinquency rates well within historical norms. Analysts have a consensus 'Buy' rating on SOFI with an average price target of $21.03, representing a potential upside of 19.42% from the current price of $17.61. The highest target is $30.00, indicating substantial growth potential.

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