3 Reasons to Be Bullish on SoFi

By Jose Najarro – May 26, 2021 at 12:08PM

NYSE: IPOE

Social Capital Hedosophia Holdings Corp. V

SoFi just shared some impressive numbers in its earnings report for the first quarter of 2021.

In today's video I look at Social Capital Hedosophia Holdings VCorp (IPOE), the SPAC that plans to merge with SoFi. I share my overall thoughts on its recent earnings and why investors should be bullish.

Three reasons to be bullish on SoFi

SoFi sees strong growth in members and revenue. SoFi reported 110% year-over-year (YOY) member growth and 151% YOY revenue growth for the first quarter of 2021.
Financial fundamentals are improving for SoFi. The first quarter of 2021 is Sofi's third consecutive quarter of positive EBITDA, thanks to margin improvements.
For the fiscal year of 2021, SoFi expects a 58% YOY revenue growth and adjusted EBITDA margins of 3%, compared to 2020, which saw 38% revenue growth and unprofitable EBITDA margins.

Click the video below for my full thoughts.

*Stock Prices used were the midday prices of May 24, 2021. The video was published on May 24, 2021.

Jose Najarro has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Social Capital Hedosophia Holdings Corp. V. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.