Is SoFi Stock a Buy Now?
Financial technology companies benefit from increasing demand among consumers for simple and effective financial products. Not all fintech companies have succeeded as the sector has grown, but one that has is SoFi Technologies (NASDAQ: SOFI).
SoFi is profitable, revenue is on the rise, and its customer base continues to expand. The company has evolved over the years as it has broadened its financial services to include more traditional banking and loan options. Management's constant reinvention and ability to tap into new customers have caused its share price to rise 240% over the past three years.
Given all this stock price performance in a relatively short time, is SoFi stock a buy right now? Here's why the company continues to attract investors -- and why potential shareholders should consider the stock's valuation before buying.
Source Fool.com
