SOFI STOCK ANALYSIS. Is SOFI a BUY at $6.00? Student Loan Moratorium Update!

SOFI Stock Analysis. Should I buy SOFI? The Biden administration has announced an additional extension for the federal student loan forbearance program currently in effect, which was slated to expire at the start of May. With the newly announced extension, federal student loans will not accrue interest or require payment until August 31. Forbearance may even be extended to the end of 2022. How will this affect SOFI?
SOFI's Q1 earnings will be announced after market close on May 10, 2022. #TonyDenaro #SOFI #FintechShow more

Due Diligence Links:
SOFI Q4 earnings (posted March 2022): https://s27.q4cdn.com/749715820/files/doc_financials/2021/q4/Q4'21-Investor-Presentation.pdf

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From Morningstar: https://www.morningstar.com/stocks/xnas/sofi/analysis
SoFi targets young, high-income individuals who may be underserved by traditional full-service banks. The company is purely digital and engages with its clients exclusively through its mobile app and website. Unlike existing digital banks, which generally have limited product offerings, SoFi offers a full suite of financial services and products that includes everything from student loans to estate planning. The intent is that this will allow its customers to structure the entirety of their finances around SoFi, and the company’s reward structures are designed to encourage its clients to do so. By acting as a one-stop shop for its customers' finances, SoFi intends to create powerful cross-selling advantages that will reduce its cost of acquisition and give it a competitive advantage in the marketplace.

In order to meet this goal, SoFi has used a mixture of internal development and external partnerships to rapidly expand the services offered to its clients. The use of partnerships has allowed SoFi to build out its product offerings with impressive speed, transforming SoFi from being a student and personal loan company into a one-stop shop for financial services in just a few years. The company’s expanded product lineup along with increased adoption of digital banking during the pandemic has helped accelerate SoFi’s growth, with the number of members increasing by nearly 90% in 2020. Rapid growth has persisted into 2021, and SoFi remains the only company utilizing a digital full-service model, giving it a clear niche.

While SoFi has offered its clients banking services for some time, the company itself has only recently become a true bank. Having successfully gained a national banking charter in early 2022, SoFi is now able to retain deposits into its SoFi Money accounts and use them to support its lending operations. Prior to SoFi obtaining a charter, deposits into these accounts were swept out to SoFi's partner banks, leaving SoFi to finance its lending arms entirely though external financing. Access to these lower-costs funds will give SoFi the opportunity to drive net interest income growth as the firm leans into its unique model for digital banking.