Why Are SoFi Shares Soaring After Earnings?

By Neil Rozenbaum – Oct 30, 2023 at 10:00AM

NASDAQ: SOFI

SoFi Technologies

Market Cap

$8B

Today's Change

(2.25%) $0.16

Current Price

$7.28

Price as of May 17, 2024, 4:00 p.m. ET

SoFi stock is up after the company reported Q3 earnings. Is the stock a buy right now?

In this video, I will be going over SoFi Technologies' (SOFI 2.25%) third-quarter earnings report, which blew everyone's expectations out of the water. The stock is up over 50% this year alone, but reaching profitability by Q4 could send this stock to greater heights.

*Stock prices used were from the trading day of Oct. 27, 2023. The video was published on Oct. 29, 2023.

Neil Rozenbaum has positions in SoFi Technologies. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Neil 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.