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Is SOFI a good stock to buy? We came across a bullish thesis on SoFi Technologies, Inc. on Joe Gannon’s Substack by Gannon Capital. In this article, we will summarize the bulls’ thesis on SOFI. SoFi Technologies, Inc.'s share was trading at $19.43 as of April 17th. SOFI’s trailing and forward P/E were 49.82 and 32.36 respectively according to Yahoo Finance.

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SoFi Technologies has evolved from a niche student lender into a fully integrated financial “super app” and infrastructure platform, positioning itself as a disruptive force against legacy banking. The company initially targeted high-earning, low-risk borrowers overlooked by traditional banks, building a loyal customer base through differentiated member benefits and a strong brand ecosystem.

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Over time, it executed a successful “unbundle and rebundle” strategy, expanding from lending into a comprehensive suite of financial services including banking, investing, and insurance, all within a unified digital interface. This ecosystem drives a powerful flywheel, where low-cost customer acquisition feeds into high-margin cross-selling, with approximately 40% of new products now adopted by existing members, highlighting strong engagement and scalability.

A key inflection point came with SoFi’s bank charter, which enabled it to fund loans using low-cost deposits rather than expensive external capital, significantly improving margins and unlocking sustained profitability. Its digital-only model further enhances efficiency, allowing the company to reinvest savings into competitive yields and customer growth.

Beyond consumer finance, SoFi’s technology platform, including Galileo and Technisys, provides critical backend infrastructure to fintechs, creating a high-margin, recurring revenue stream that supports a premium valuation. Additional catalysts include expansion into crypto infrastructure, AI-driven financial automation, small business services, and international markets, all of which broaden its total addressable market.

With consistent execution, accelerating revenue growth, and increasing operating leverage, SoFi Technologies appears well-positioned for continued compounding, supported by multiple structural advantages and long-term growth drivers.

Previously, we covered a bullish thesis on SoFi Technologies, Inc. (SOFI) by Oliver | MMMT Wealth in May 2025, which highlighted consistent revenue and EPS beats, strong membership growth, and improving profitability. SOFI's stock price has appreciated by approximately 51.08% since our coverage. Joe Gannon shares a similar view but emphasizes on its super app evolution, technology platform, and long-term scalable growth drivers.

SoFi Technologies, Inc. is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 56 hedge fund portfolios held SOFI at the end of the fourth quarter which was 44 in the previous quarter. While we acknowledge the risk and potential of SOFI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SOFI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

Disclosure: None.