Welcome to our dedicated page for SoFi Technologies news (Ticker: SOFI), a resource for investors and traders seeking the latest updates and insights on SoFi Technologies stock.
SoFi Technologies, Inc. (symbol: SOFI) is a forward-thinking financial services company founded in 2011 and headquartered in San Francisco. Initially renowned for its student loan refinancing, SoFi has significantly broadened its product lineup to cater to a wide array of financial needs. Today, SoFi offers personal loans, credit cards, mortgages, investment accounts, banking services, and comprehensive financial planning, making it a one-stop financial hub for its members.
One of SoFi's standout features is its commitment to empowering members to achieve financial greatness through innovative products and exceptional service. The company operates primarily through its user-friendly mobile app and website, providing fast, seamless access to financial tools and services.
In 2020, SoFi expanded its capabilities by acquiring Galileo Financial Technologies, a move that strengthened its infrastructure for payment processing and digital banking. This acquisition allows SoFi to offer enhanced debit card services and account management solutions.
Recent Achievements and Current Projects:
- SoFi has continued to innovate with new product launches and updates, including improved investment tools and expanded banking features.
- The company has forged strategic partnerships to enhance its service offerings and reach.
- SoFi maintains a strong focus on community engagement, providing resources and support to help members succeed in their financial journeys.
SoFi's financial condition remains robust, underpinned by a clear strategy for growth and a commitment to delivering value to its members. The company's recent initiatives and partnerships reflect its dedication to being a leader in the financial services sector.
For the latest updates and in-depth information about SoFi Technologies, Inc., including performance metrics and recent developments, visit their official website or follow their news releases.
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SoFi (NASDAQ: SOFI) announced that SoFi Invest members can now invest in select alternative investment funds, mutual funds, and money market funds, expanding investment opportunities for everyday investors. The company will offer over 6,000 different mutual funds and access to alternative investments such as the ARK Venture Fund and Franklin Templeton’s Clarion Partners Real Estate Income Fund. SoFi will also provide educational resources and access to Certified Financial Planners to help investors understand and make informed decisions about these investment vehicles.
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SoFi Technologies, Inc. reported accelerated revenue growth, expanding margins, and GAAP profitability in the fourth quarter, with positive GAAP net income of $48 million and GAAP EPS of $0.02. The company achieved record adjusted EBITDA of $181 million, up 159% year-over-year, and saw 40% of fourth-quarter adjusted net revenue from the tech platform and financial services segments. Total members and products grew by 44% and 41% year-over-year, respectively, and total deposits increased by $2.9 billion to $18.6 billion in the fourth quarter. The company also announced its 2024 guidance and longer-term outlook.
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SoFi, the digital personal finance company, expands its small business marketplace to better support American small business owners' financing needs. CEO Anthony Noto emphasizes the mission to help members achieve financial independence and realize their ambitions. The SMB marketplace simplifies the process of finding and filtering for a lender that fits a business owner’s unique needs by pairing a single application process with SoFi’s curated marketplace of participating providers.
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SoFi (NASDAQ: SOFI) wins 2 banking and 1 lending awards from NerdWallet, Inc. for Best Checking Account Overall, Best Checking Account for Overdraft Fee Avoidance, and Best Personal Loan Overall. The awards highlight SoFi's commitment to offering best-in-class financial products to consumers.
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SoFi Technologies, Inc. (NASDAQ: SOFI) has announced plans to host a conference call to discuss financial and operating results for the fourth quarter and full year of 2023 on January 29, 2024. The company will release its results on its investor relations section of the website at approximately 7 a.m. Eastern Time on the same day. Full session details for the conference appearance are available on the company's website.
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SoFi Invest (SOFI) offers a 2% match on all eligible IRA contributions through Tax Day 2024, doubling the previously announced 1% match. The offer aims to help members accelerate their retirement savings and alleviate tax day anxiety. The SoFi Midyear Investor Report 2023 found that over half of investors feel underinvested, with Gen X'ers feeling the most underinvested, followed by Millennials and Gen Z. SoFi Invest provides a broad suite of investing tools and educational resources, including access to Certified Financial Planners, fractional share trading, and educational articles on investing, financial planning, and retirement.
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Kimley-Horn (KH) offers employees up to 8% of their salary plus bonus for outstanding student loans through a partnership with SoFi at Work. The company provides a 200% match into qualifying employees' 401(k) plans based on their student loan repayments, in addition to a generous profit-sharing contribution. This new benefit enhances the firm's financial wellness program and sets it apart as one of the best places to work. Kimley-Horn's benefits have earned the firm numerous workplace awards, including being named one of Fortune 100 Best Companies to Work For® for over 15 years.
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SoFi Technologies, Inc. (NYSE Arca: THTA) launches the SoFi Enhanced Yield ETF, offering a monthly income solution for investors through investments in treasury bills and options, actively managed by ZEGA Financial. The fund aims to provide monthly distributions via a portfolio of short-term Treasury Bills and a data-driven options overlay strategy, introducing a fast-growing emerging asset class. ZEGA Financial will actively manage the options strategy, expanding the investing landscape beyond traditional 60/40 to cater to investors seeking potentially higher-yielding investment options.
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SoFi Technologies, Inc. (NASDAQ: SOFI) announces management participation in two upcoming investor community events, including a fireside chat at the Stephens Annual Investment Conference and a Q+A session for shareholders in December. Shareholders can submit questions ahead of the event, and webcast registration details are provided.
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The second annual SoFi Spending & Saving Study reveals that Americans will spend over $1,100 on average on holiday gifts, with Millennials leading with an average spending of nearly $1,500. The study also shows that one third of Millennials have gone into debt to finance their holiday gift giving.
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FAQ
What is the current stock price of SoFi Technologies (SOFI)?
The current stock price of SoFi Technologies (SOFI) is $16.02 as of December 24, 2024.
What is the market cap of SoFi Technologies (SOFI)?
The market cap of SoFi Technologies (SOFI) is approximately 17.4B.
What services does SoFi Technologies, Inc. offer?
SoFi offers a range of financial services including personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning.
When was SoFi Technologies, Inc. founded?
SoFi was founded in 2011.
Where is SoFi Technologies, Inc. headquartered?
SoFi is headquartered in San Francisco, California.
What was SoFi initially known for?
SoFi was initially known for its student loan refinancing services.
How does SoFi primarily operate?
SoFi operates primarily through its mobile app and website.
What is the significance of SoFi's acquisition of Galileo Financial Technologies?
The acquisition of Galileo Financial Technologies in 2020 enhanced SoFi's capabilities in payment processing and digital banking services.
What recent innovations has SoFi introduced?
SoFi has introduced new investment tools, expanded banking features, and strategic partnerships to enhance its service offerings.
How does SoFi support its members?
SoFi supports its members through community engagement, providing resources and tools to help them achieve financial success.
What can you find on SoFi's official website?
You can find the latest updates, performance metrics, and detailed information about SoFi's services and recent developments.
What is SoFi's mission?
SoFi's mission is to empower its members to achieve financial greatness through innovative products and exceptional service.
SoFi Technologies, Inc.
Nasdaq:SOFI
SOFI Rankings
SOFI Stock Data
17.38B
1.04B
3.2%
43.78%
13.7%
Credit Services
Finance Services
United States of America
SAN FRANCISCO