SoFi Technologies (SOFI) Stock Analysis

Nikolay Nikolov
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Fintech is an industry that evolves rapidly, as innovative and practical features are constantly being introduced to the broad public. Financial technologies may be a great investment opportunity in the long run; however, the global market has been underperforming lately, and many companies’ stocks are currently being traded at all-time lows. This leaves an open door for many investors to get involved before the prices spike.

One of the businesses with high potential is the American values-driven company SoFi technologies. The firm was founded in 2011 and has since offered financial products and services of the highest standards, with over 5 million members worldwide.

SoFi’s IPO was held in the last quarter of 2020, and it immediately brought success to the company, with its price going from 11$ to around 22$ in just a couple of months. Many investors believe that the price of SoFi stock has the potential to skyrocket in a couple of months, and SOFI may be one of the best penny stock investments right now, considering it is being traded at a substantial discount. You can browse through our detailed review of SOFI stock and its price fluctuations over the years to determine whether the fintech company can bring you high ROI in 2023 and beyond.

SoFi Stock Forecast for 2023

There are many reasons to believe 2023 will be a strong year for SoFi. First, the fears of a recession are starting to vanish as the world economy is recovering and people feel safe to make more investments. The strong upcoming market will drive attention to high-potential niches like the financial and technological industries, which will be the most beneficial in the upcoming bull run. Secondly, for a relatively new company, SoFi has accumulated surprisingly high numbers, with over 5 million members, 34 billion in debt paid off, and 73 billion in funded loans.

The numbers are growing for SoFi, and the company has remained consistent for many years, which shows investment potential in the long run, which buy-and-hold investors might find appealing. In this highly competitive industry, SoFi has managed to help people borrow, save, spend, invest, and protect their money better in a practical way, which will be a determining factor for the company’s growth in 2023.

The average stock price for SoFi in the last 52 weeks was $6.48 by the time of writing this article. This price is more than three times lower than the all-time high of $25.78, which many investors believe can be reached this year. Moreover, the SoFi stock price has long-term growth potential even beyond 2023. Considering the company’s values and standards, SoFi may even have the potential to become an industry leader by 2030.

SoFi Stock Performance and Quarterly Review in 2022

The year 2022 has been harsh for the stock market, and fintech stocks have not been an exception. SoFi ended 2021 with a price of around $16. Fast forward to December 2022, when the SoFi stock reached its all-time low of $4.24 after a 12-month bull run. The prices are in unison with The Global X Fintech ETF, which fell over 50% in just one year. Although SOFI’s stocks have experienced a sharp downturn in 2021, the light in the tunnel is their Q4 report, which accentuates the strong recovery potential of the valuable asset.

Compared to the previous year, the stock price has fallen over 70%, as the average trade volume of SOFI in 2021 was around the $18 mark. The underperformance of SoFi’s shares has nothing to do with the company itself but is instead a result of the post-covid world economy.

Since December 2021, the stock market has been moving downward, and the bear market has reflected in the stock prices in many industries. The rising inflation rates have kept many from risky investments like commodities and cryptocurrencies. The fear of an upcoming recession negatively impacts the financial markets, which, combined with rising unemployment rates, creates uncertainty in many investors.

With an average stock price of $7.3643, a year open price at $15.6800, and a year close at $4.610, the annual percentage change for SoFi for 2022 rounds up at -70.84%. However, we took from the Q4 report published at the beginning of February 2023 that the company has solid projections regarding its overall customer acquisition. Their ambitions and new customers may lead to increased overall revenue, more earnings per share, and positive reflection on their finances, which may increase their share price.

SoFi Stock 2021

SoFi technologies, inc. has come a long way since 2011, when it started as a company offering student loan refinancing. Since then, they have provided numerous excellent financial services, including investment opportunities, credit cards, insurance, personal loans, an innovative mobile app, and basically everything related to money. The consistency and drive of SoFi’s team to “Help people get their money right” has led to its highly anticipated public IPO on 1 June 2021.

The year 2021 was wild for the stock market, with its overall solid performance leading to an increase of around 27% for the largest index fund, the S&P500. The year of all-time highs and speculations has benefited SoFi, with an average stock price running at $18.0557, an astonishing year high at $25.7800, and a positive annual year change of 27.09%. The overall net book value of the company experienced a sequential growth of 48% just a couple of months after its IPO. What is more, the overall value of SoFi climbed by over 12% after becoming public.

SoFi merged with SPAC and got valued at around $9 billion at the end of the first quarter of 2021. In the second quarter of 2021, the company underwent a 43% drop in liabilities, and a 10.74% drop in assets, which was supposedly a result of the funding that SoFi got whenever their stock went public. The Q2 announcement of the company caused a rise in the price at the beginning of July, with the value rounding up around $15.06.

A short squeeze in October brought the price to $23.290 on 4 November, as traders took advantage of the low-interest rates to invest in companies with values. The slowly rising interest rates and fears of a recession have led to a decline in the stock price due to e sell-off, which drove the year-close price of SOFI to $15.8100. Overall, this year has brought SoFi to the map, and the company established itself as a strong player in the financial market.

How to Invest in Sofi Stocks

eToro logo

If you’re looking to invest in Sofi stocks, eToro is one of the best online brokers to consider. With a solid reputation and a wide range of options for both beginners and professional traders, eToro makes it easy for you to invest in Sofi stocks. In this mini-guide, we will walk you through the process of opening an account on eToro and investing in Sofi stocks.

Step 1: Open an Account

To begin, you’ll need to open an account with eToro. Visit their homepage at and click on the “Join Now” or “Sign Up” button. This will take you to the registration page, where you’ll be asked to provide some basic information, such as your name, email address, and phone number. After filling in the required details, click “Create Account” to complete the registration process. We will have an image here to guide you through this step.

For more information, visit:

Open an Account

Step 2: Upload ID

After creating your account, you’ll need to verify your identity by uploading a valid proof of ID. This can be your passport or any government-issued identification document. To do this, navigate to the profile verification section on eToro’s platform and follow the instructions to upload your ID. We will have an image here to help you with this step.

For more information, visit:

Proof of identity

Step 3: Make a Deposit

To start trading on eToro, you’ll need to deposit funds into your account. Click on the “Deposit Funds” button, which can be found on the platform’s dashboard. You can choose from various payment methods, such as credit/debit cards, PayPal, or bank transfers. Select your preferred option and follow the prompts to complete your deposit. We will have an image here to guide you through this step.

For more information, visit:

Make a Deposit

Step 4: Search for Sofi

Now that your account is funded, you can search for Sofi stocks on eToro’s platform. Locate the search bar on the top of the page, and type “Sofi” or its ticker symbol “SOFI” into the search field. The Sofi stock should appear in the search results. We will have an image here to help you with this step.

Step 5: Buy Sofi

To invest in Sofi stocks, click on the Sofi stock from the search results to access its trading page. On the trading page, you’ll see a “Trade” button. Click on the “Trade” button to open a new window, where you can enter the amount you wish to invest, set stop loss and take profit orders, and choose between market or limit orders. Review your order and click “Open Trade” to complete the transaction. Congratulations! You have now successfully invested in Sofi stocks on eToro. We will have an image here to guide you through this step.


While the fintech industry has been underperforming lately, SoFi Technologies, Inc. remains a promising investment opportunity in the long run. SoFi’s 2022 Q4 report accentuates its strong recovery potential, which may lead to increased overall revenue, more earnings per share, and a positive financial reflection. The year 2023 is expected to be a strong year for the company due to the recovering global economy and the rising attention to high-potential niches like the financial and technological industries. With a current average stock price that is substantially lower than its all-time high, investors may find SoFi an appealing buy-and-hold investment opportunity that may have the potential to become an industry leader by 2030.


Is SoFi a legitimate company?

SoFi technologies, inc. has been operating for over 10+ years, providing high-quality banking services to more than 5 million clients worldwide. Based on the positive client reviews and the highest security standards that the company complies with, it is safe to say that SoFi is a legitimate online bank.

What does SoFi do?

SoFi is a digital finance company that aims to help its customers get their money right and reach financial independence to realize their ambitions. In SoFi, you will find numerous practical financial services, including Personal Loans, Banking, Credit Score & Insights, Private Students Loans, Insurance, Mortgage Loans, and many more.

Is it worth it to invest in SoFi stocks now?

For value investors, SOFI is an excellent bang for their buck, as the stock is currently being traded at a drastically discontinued price. The current market conditions are suitable for investing, considering the economy is slowly but surely recovering. With that being said, the stock market still hides high risks, so always remember to trade with caution.

Risk Disclaimer

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