Fwsh
2021-12-06
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SoFi: Tremendously Undervalued<blockquote>SoFi：被严重低估</blockquote>
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Because SoFi's member and revenue growth has become too cheap, once again, I am buying!</p><p><blockquote>SoFi Technologies（纳斯达克股票代码：SOFI）的股价处于短期下跌趋势，这主要是由宏观风险因素决定的，而不是数字银行的商业业绩。因为SoFi的会员和收入增长变得太便宜了，所以我再次买入！</blockquote></p><p> <b>SoFi: A bank in your pocket for all your financial needs</b></p><p><blockquote><b>SoFi：满足您所有财务需求的口袋里的银行</b></blockquote></p><p> It is hard to decide where to invest my money these days because the correction of growth stocks is creating more bargains than I could possibly buy. I have already bought PayPal(NASDAQ:PYPL), because of its revenue growth and Venmo/Amazon(NASDAQ:AMZN)partnership, Alibaba(NYSE:BABA), because of its cheap e-commerce growth, Palantir(NYSE:PLTR), because of a large and expanding government business, and now SoFi.</p><p><blockquote>如今很难决定将资金投资到哪里，因为成长型股票的调整正在创造比我可能购买的更多的便宜货。我已经购买了PayPal（纳斯达克股票代码：PYPL），因为它的收入增长和Venmo/亚马逊（纳斯达克股票代码：AMZN）的合作伙伴关系，阿里巴巴-SW（纽约证券交易所股票代码：BABA），因为其廉价的电子商务增长，Palantir（纽约证券交易所股票代码：PLTR），因为庞大且不断扩大的政府业务，现在是SoFi。</blockquote></p><p> SoFi experiences rapid member and revenue growth because of the firm's easy-to-use personal finance app and roll-out of new financial products in segments like cryptocurrencies, credit cards and investing services. SoFi is a \"bank in your pocket\", offering everything from home loans to student loan refinancings and insurance products to protect your family. SoFi's product offerings have expanded greatly during the pandemic and the digital bank offered 4.3M different products to its member base in the September quarter, showing an increase of 108% year over year. The majority of such offerings relate to financial services which serve a customer base that has shown appetite for new investment products, like fractional investing or digital currencies.</p><p><blockquote>由于该公司易于使用的个人理财应用程序以及在加密货币、信用卡和投资服务等领域推出新金融产品，SoFi的会员和收入实现了快速增长。SoFi是一家“你口袋里的银行”，提供从住房贷款到学生贷款再融资和保险产品的一切服务，以保护你的家人。SoFi的产品种类在疫情期间大幅扩展，该数字银行在9月份季度向其会员群提供了430万种不同的产品，同比增长108%。大多数此类产品与金融服务有关，为对新投资产品（如部分投资或数字货币）表现出兴趣的客户群提供服务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d0bfd58ce6b2ad8f304fe6607333445\" tg-width=\"953\" tg-height=\"519\" width=\"100%\" height=\"auto\"><span>(Source: SoFi)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：SoFi）</span></p></blockquote></p><p> As you may already know, SoFi's business soared during the pandemic. As people were forced to work remotely, mostly from home, SoFi's personal finance platform experienced a surge of customer sign-ons, and this surge is lasting to this day. SoFi's customer base swelled to 2.94M in the third-quarter. During the pandemic - the period between Q4'19 and Q3'21 - SoFi added 1.96M new members to its ecosystem, dramatically expanding the firm's cross-selling potential. This means that SoFi tripled its customer base in the last seven quarters and acquired an average of 93 thousand members every month since January 2020. SoFi's customer acquisition rate, however, has slowed this year because people have started to return to work and lockdown measures were eased. SoFi's member growth in the third-quarter was still 96% year over year, but it marks a slowdown from Q1'21 and Q2'21 where member growth rates exceeded 100%.</p><p><blockquote>您可能已经知道，SoFi的业务在大流行期间猛增。由于人们被迫远程工作，主要是在家工作，SoFi的个人理财平台经历了客户登录激增，这种激增一直持续到今天。SoFi的客户群在第三季度增至294万。在疫情期间（19年第四季度至21年第三季度），SoFi的生态系统增加了196万名新成员，极大地扩大了公司的交叉销售潜力。这意味着SoFi的客户群在过去七个季度增加了两倍，自2020年1月以来平均每月获得9.3万名会员。然而，SoFi的客户获取率今年有所放缓，因为人们已经开始重返工作岗位，封锁措施也有所放松。SoFi第三季度的会员增长率仍为96%，但与21年第一季度和21年第二季度的会员增长率超过100%相比有所放缓。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/370611a63034348c3104b8c258071ba2\" tg-width=\"939\" tg-height=\"511\" width=\"100%\" height=\"auto\"><span>(Source: SoFi)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：SoFi）</span></p></blockquote></p><p> SoFi added 126 thousand new members to its platform each month in the third-quarter. If SoFi can add around 120 thousand new members to its ecosystem each month in the fourth-quarter, which is possible and plausible, the personal finance company is set to end the year with around 3.3M members. Although SoFi may experience a continual slowdown in customer sign-ups post-pandemic, the firm is set to continue to grow at very high rates in the future. I estimate that SoFi will be able to build up its member base to around 9M members by FY 2026.</p><p><blockquote>第三季度，SoFi的平台每月新增12.6万名新会员。如果SoFi能够在第四季度每月为其生态系统增加约12万名新会员（这是可能且合理的），那么这家个人金融公司到今年年底将拥有约330万会员。尽管SoFi在大流行后的客户注册量可能会持续放缓，但该公司未来将继续以非常高的速度增长。我估计，到2026财年，SoFi的会员基础将达到900万左右。</blockquote></p><p> The personal finance business is working hard on becoming a one-stop-shop and offer customized lending and investing products to every single member in its ecosystem. And there is a tremendous opportunity for continual momentum in customer acquisitions. This is because about half of Americans use at least two different banks to cover their financial needs, based on information from Go Banking Rates. SoFi, through its easy-to-use personal finance app and massive growth in the number of lending and financial service products, is uniquely positioned to sign on millions of new customers this decade.</p><p><blockquote>个人金融业务正在努力成为一站式商店，并为其生态系统中的每一个成员提供定制的贷款和投资产品。在客户获取方面存在持续增长的巨大机会。这是因为根据Go Banking Rates的信息，大约一半的美国人使用至少两家不同的银行来满足他们的财务需求。SoFi通过其易于使用的个人理财应用程序以及贷款和金融服务产品数量的大幅增长，在本十年签约数百万新客户方面具有独特的优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d7f103fc7b0844b08be22aa736a0523\" tg-width=\"1280\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>(Source: Go Banking Rates)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：Go银行利率）</span></p></blockquote></p><p> <b>SoFi's growth is undervalued</b></p><p><blockquote><b>SoFi的增长被低估</b></blockquote></p><p></p><p> Because of the ongoing ramp in customer acquisition and revenue momentum, I believe that SoFi's drop in pricing is creating a unique opportunity to buy this undervalued growth stock. In the last eighteen trading days, SoFi traded down in fifteen days. The drop in pricing occurred chiefly because a set of macro factors is weighing on the market, including Omicron variant concerns, high inflation and a supply chain crisis that still has not been solved.</p><p><blockquote>由于客户获取和收入势头的持续增长，我相信SoFi定价的下降为购买这只被低估的成长型股票创造了独特的机会。在过去的十八个交易日中，SoFi有十五天下跌。定价下跌的主要原因是一系列宏观因素给市场带来压力，包括奥密克戎变种担忧、高通胀和仍未解决的供应链危机。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38b2e5ea23d9d6a8c99fb1ced34f1389\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Because of this undeserved drop in pricing, shares of SoFi now offer revenue growth that is 34% cheaper than in November. SoFi is expected to do sales of around $1.0B this year, based on the firm's guidance, which was raised from $980M last quarter. The revenue forecast for FY 2021 implies between 61% and 63% revenue growth.</p><p><blockquote>由于这种不应有的定价下降，SoFi股价现在的收入增长比11月份便宜了34%。根据该公司的指引，SoFi今年的销售额预计约为10亿美元，高于上季度的9.8亿美元。2021财年的收入预测意味着收入增长61%至63%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d2abb9cad4f58c2dd2adafb70d5d1431\" tg-width=\"1087\" tg-height=\"214\" width=\"100%\" height=\"auto\"><span>(Source: SoFi)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：SoFi）</span></p></blockquote></p><p> For FY 2022, SoFi is projected to see $1.5B in revenues, implying a year over year revenue growth rate of 47%. SoFi is set to continue to grow much faster than most companies until, at least, FY 2025, which means the P-S ratio is set to drop rapidly.</p><p><blockquote>2022财年，SoFi预计收入为$1.5 B，这意味着收入同比增长率为47%。至少在2025财年之前，SoFi的增长速度将继续远快于大多数公司，这意味着市盈率将迅速下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2daf0eba823036a0d30bd293f2b55ee6\" tg-width=\"640\" tg-height=\"185\" width=\"100%\" height=\"auto\"><span>(Source: Seeking Alpha)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：寻求阿尔法）</span></p></blockquote></p><p> <b>Risks with SoFi</b></p><p><blockquote><b>SoFi的风险</b></blockquote></p><p> As the economy moved on from the COVID-19 pandemic, SoFi's member and revenue growth has started to slow. SoFi still added the second-highest number of new members to its platform in the third-quarter, but acquisition growth is slowing. This suggests that growth will continue to moderate unless, for reasons that would also be very concerning, the Omicron variant leads to a reboot of the pandemic, with additional vaccine requirements and shutdown orders to mitigate the spread of this variant.</p><p><blockquote>随着经济从COVID-19大流行中恢复过来，SoFi的会员和收入增长开始放缓。SoFi在第三季度仍为其平台增加了第二高的新会员数量，但收购增长正在放缓。这表明，增长将继续放缓，除非出于同样非常令人担忧的原因，奥密克戎变种导致大流行重启，并要求额外的疫苗要求和关闭命令来减缓这种变种的传播。</blockquote></p><p> Commercially speaking, SoFi will face tougher competition from other FinTechs and banks in the future that will do everything they can to resist SoFi's disruptive digital bank model. SoFi's personal finance platform itself has no moat, however, which means rivals can build similar digital banks and compete on aggressively low margins.</p><p><blockquote>从商业角度来说，SoFi未来将面临来自其他金融科技公司和银行的更激烈竞争，这些公司和银行将竭尽全力抵制SoFi颠覆性的数字银行模式。然而，SoFi的个人金融平台本身没有护城河，这意味着竞争对手可以建立类似的数字银行，并以极低的利润率进行竞争。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Shares of SoFi have dropped very steeply since November, although the firm's third-quarter showed commercial success regarding customer acquisition and product growth. SoFi also raised its forecast for FY 2021 revenues. Because of the 34% drop in pricing since November, SoFi's revenue and member growth is now heavily discounted again. SoFi - next to PayPal, Alibaba and Palantir - is a stock I am buying during this year-end sale!</p><p><blockquote>自11月以来，SoFi的股价大幅下跌，尽管该公司第三季度在客户获取和产品增长方面取得了商业成功。SoFi还上调了对2021财年收入的预期。由于自11月以来定价下降了34%，SoFi的收入和会员增长现在再次大打折扣。SoFi——仅次于PayPal、阿里巴巴-SW和Palantir——是我在这次年终促销期间购买的股票！</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SoFi: Tremendously Undervalued<blockquote>SoFi：被严重低估</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoFi: Tremendously Undervalued<blockquote>SoFi：被严重低估</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-06 19:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul> <li>Shares of SoFi are back in a buy-the-drop situation.</li> <li>In the last 18 trading days, SoFi finished green only 3 times.</li> <li>SoFi’s member and revenue growth is now deeply discounted.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb82fa7cfd61f98e4e6d55180d3508a0\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>NicoElNino/iStock via Getty Images</span></p><p><blockquote><ul><li>SoFi的股价又回到了逢低买入的局面。</li><li>最近18个交易日，SoFi仅3次收绿。</li><li>SoFi的会员和收入增长现在大打折扣。</li></ul><p class=\"t-img-caption\"><span>NicoElNino/iStock来自Getty Images</span></p></blockquote></p><p> Shares of SoFi Technologies(NASDAQ:SOFI)are in a short term downtrend that is chiefly defined by macro risk factors, not the digital bank's commercial performance. Because SoFi's member and revenue growth has become too cheap, once again, I am buying!</p><p><blockquote>SoFi Technologies（纳斯达克股票代码：SOFI）的股价处于短期下跌趋势，这主要是由宏观风险因素决定的，而不是数字银行的商业业绩。因为SoFi的会员和收入增长变得太便宜了，所以我再次买入！</blockquote></p><p> <b>SoFi: A bank in your pocket for all your financial needs</b></p><p><blockquote><b>SoFi：满足您所有财务需求的口袋里的银行</b></blockquote></p><p> It is hard to decide where to invest my money these days because the correction of growth stocks is creating more bargains than I could possibly buy. I have already bought PayPal(NASDAQ:PYPL), because of its revenue growth and Venmo/Amazon(NASDAQ:AMZN)partnership, Alibaba(NYSE:BABA), because of its cheap e-commerce growth, Palantir(NYSE:PLTR), because of a large and expanding government business, and now SoFi.</p><p><blockquote>如今很难决定将资金投资到哪里，因为成长型股票的调整正在创造比我可能购买的更多的便宜货。我已经购买了PayPal（纳斯达克股票代码：PYPL），因为它的收入增长和Venmo/亚马逊（纳斯达克股票代码：AMZN）的合作伙伴关系，阿里巴巴-SW（纽约证券交易所股票代码：BABA），因为其廉价的电子商务增长，Palantir（纽约证券交易所股票代码：PLTR），因为庞大且不断扩大的政府业务，现在是SoFi。</blockquote></p><p> SoFi experiences rapid member and revenue growth because of the firm's easy-to-use personal finance app and roll-out of new financial products in segments like cryptocurrencies, credit cards and investing services. SoFi is a \"bank in your pocket\", offering everything from home loans to student loan refinancings and insurance products to protect your family. SoFi's product offerings have expanded greatly during the pandemic and the digital bank offered 4.3M different products to its member base in the September quarter, showing an increase of 108% year over year. The majority of such offerings relate to financial services which serve a customer base that has shown appetite for new investment products, like fractional investing or digital currencies.</p><p><blockquote>由于该公司易于使用的个人理财应用程序以及在加密货币、信用卡和投资服务等领域推出新金融产品，SoFi的会员和收入实现了快速增长。SoFi是一家“你口袋里的银行”，提供从住房贷款到学生贷款再融资和保险产品的一切服务，以保护你的家人。SoFi的产品种类在疫情期间大幅扩展，该数字银行在9月份季度向其会员群提供了430万种不同的产品，同比增长108%。大多数此类产品与金融服务有关，为对新投资产品（如部分投资或数字货币）表现出兴趣的客户群提供服务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d0bfd58ce6b2ad8f304fe6607333445\" tg-width=\"953\" tg-height=\"519\" width=\"100%\" height=\"auto\"><span>(Source: SoFi)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：SoFi）</span></p></blockquote></p><p> As you may already know, SoFi's business soared during the pandemic. As people were forced to work remotely, mostly from home, SoFi's personal finance platform experienced a surge of customer sign-ons, and this surge is lasting to this day. SoFi's customer base swelled to 2.94M in the third-quarter. During the pandemic - the period between Q4'19 and Q3'21 - SoFi added 1.96M new members to its ecosystem, dramatically expanding the firm's cross-selling potential. This means that SoFi tripled its customer base in the last seven quarters and acquired an average of 93 thousand members every month since January 2020. SoFi's customer acquisition rate, however, has slowed this year because people have started to return to work and lockdown measures were eased. SoFi's member growth in the third-quarter was still 96% year over year, but it marks a slowdown from Q1'21 and Q2'21 where member growth rates exceeded 100%.</p><p><blockquote>您可能已经知道，SoFi的业务在大流行期间猛增。由于人们被迫远程工作，主要是在家工作，SoFi的个人理财平台经历了客户登录激增，这种激增一直持续到今天。SoFi的客户群在第三季度增至294万。在疫情期间（19年第四季度至21年第三季度），SoFi的生态系统增加了196万名新成员，极大地扩大了公司的交叉销售潜力。这意味着SoFi的客户群在过去七个季度增加了两倍，自2020年1月以来平均每月获得9.3万名会员。然而，SoFi的客户获取率今年有所放缓，因为人们已经开始重返工作岗位，封锁措施也有所放松。SoFi第三季度的会员增长率仍为96%，但与21年第一季度和21年第二季度的会员增长率超过100%相比有所放缓。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/370611a63034348c3104b8c258071ba2\" tg-width=\"939\" tg-height=\"511\" width=\"100%\" height=\"auto\"><span>(Source: SoFi)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：SoFi）</span></p></blockquote></p><p> SoFi added 126 thousand new members to its platform each month in the third-quarter. If SoFi can add around 120 thousand new members to its ecosystem each month in the fourth-quarter, which is possible and plausible, the personal finance company is set to end the year with around 3.3M members. Although SoFi may experience a continual slowdown in customer sign-ups post-pandemic, the firm is set to continue to grow at very high rates in the future. I estimate that SoFi will be able to build up its member base to around 9M members by FY 2026.</p><p><blockquote>第三季度，SoFi的平台每月新增12.6万名新会员。如果SoFi能够在第四季度每月为其生态系统增加约12万名新会员（这是可能且合理的），那么这家个人金融公司到今年年底将拥有约330万会员。尽管SoFi在大流行后的客户注册量可能会持续放缓，但该公司未来将继续以非常高的速度增长。我估计，到2026财年，SoFi的会员基础将达到900万左右。</blockquote></p><p> The personal finance business is working hard on becoming a one-stop-shop and offer customized lending and investing products to every single member in its ecosystem. And there is a tremendous opportunity for continual momentum in customer acquisitions. This is because about half of Americans use at least two different banks to cover their financial needs, based on information from Go Banking Rates. SoFi, through its easy-to-use personal finance app and massive growth in the number of lending and financial service products, is uniquely positioned to sign on millions of new customers this decade.</p><p><blockquote>个人金融业务正在努力成为一站式商店，并为其生态系统中的每一个成员提供定制的贷款和投资产品。在客户获取方面存在持续增长的巨大机会。这是因为根据Go Banking Rates的信息，大约一半的美国人使用至少两家不同的银行来满足他们的财务需求。SoFi通过其易于使用的个人理财应用程序以及贷款和金融服务产品数量的大幅增长，在本十年签约数百万新客户方面具有独特的优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d7f103fc7b0844b08be22aa736a0523\" tg-width=\"1280\" tg-height=\"721\" width=\"100%\" height=\"auto\"><span>(Source: Go Banking Rates)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：Go银行利率）</span></p></blockquote></p><p> <b>SoFi's growth is undervalued</b></p><p><blockquote><b>SoFi的增长被低估</b></blockquote></p><p></p><p> Because of the ongoing ramp in customer acquisition and revenue momentum, I believe that SoFi's drop in pricing is creating a unique opportunity to buy this undervalued growth stock. In the last eighteen trading days, SoFi traded down in fifteen days. The drop in pricing occurred chiefly because a set of macro factors is weighing on the market, including Omicron variant concerns, high inflation and a supply chain crisis that still has not been solved.</p><p><blockquote>由于客户获取和收入势头的持续增长，我相信SoFi定价的下降为购买这只被低估的成长型股票创造了独特的机会。在过去的十八个交易日中，SoFi有十五天下跌。定价下跌的主要原因是一系列宏观因素给市场带来压力，包括奥密克戎变种担忧、高通胀和仍未解决的供应链危机。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38b2e5ea23d9d6a8c99fb1ced34f1389\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Because of this undeserved drop in pricing, shares of SoFi now offer revenue growth that is 34% cheaper than in November. SoFi is expected to do sales of around $1.0B this year, based on the firm's guidance, which was raised from $980M last quarter. The revenue forecast for FY 2021 implies between 61% and 63% revenue growth.</p><p><blockquote>由于这种不应有的定价下降，SoFi股价现在的收入增长比11月份便宜了34%。根据该公司的指引，SoFi今年的销售额预计约为10亿美元，高于上季度的9.8亿美元。2021财年的收入预测意味着收入增长61%至63%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d2abb9cad4f58c2dd2adafb70d5d1431\" tg-width=\"1087\" tg-height=\"214\" width=\"100%\" height=\"auto\"><span>(Source: SoFi)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：SoFi）</span></p></blockquote></p><p> For FY 2022, SoFi is projected to see $1.5B in revenues, implying a year over year revenue growth rate of 47%. SoFi is set to continue to grow much faster than most companies until, at least, FY 2025, which means the P-S ratio is set to drop rapidly.</p><p><blockquote>2022财年，SoFi预计收入为$1.5 B，这意味着收入同比增长率为47%。至少在2025财年之前，SoFi的增长速度将继续远快于大多数公司，这意味着市盈率将迅速下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2daf0eba823036a0d30bd293f2b55ee6\" tg-width=\"640\" tg-height=\"185\" width=\"100%\" height=\"auto\"><span>(Source: Seeking Alpha)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：寻求阿尔法）</span></p></blockquote></p><p> <b>Risks with SoFi</b></p><p><blockquote><b>SoFi的风险</b></blockquote></p><p> As the economy moved on from the COVID-19 pandemic, SoFi's member and revenue growth has started to slow. SoFi still added the second-highest number of new members to its platform in the third-quarter, but acquisition growth is slowing. This suggests that growth will continue to moderate unless, for reasons that would also be very concerning, the Omicron variant leads to a reboot of the pandemic, with additional vaccine requirements and shutdown orders to mitigate the spread of this variant.</p><p><blockquote>随着经济从COVID-19大流行中恢复过来，SoFi的会员和收入增长开始放缓。SoFi在第三季度仍为其平台增加了第二高的新会员数量，但收购增长正在放缓。这表明，增长将继续放缓，除非出于同样非常令人担忧的原因，奥密克戎变种导致大流行重启，并要求额外的疫苗要求和关闭命令来减缓这种变种的传播。</blockquote></p><p> Commercially speaking, SoFi will face tougher competition from other FinTechs and banks in the future that will do everything they can to resist SoFi's disruptive digital bank model. SoFi's personal finance platform itself has no moat, however, which means rivals can build similar digital banks and compete on aggressively low margins.</p><p><blockquote>从商业角度来说，SoFi未来将面临来自其他金融科技公司和银行的更激烈竞争，这些公司和银行将竭尽全力抵制SoFi颠覆性的数字银行模式。然而，SoFi的个人金融平台本身没有护城河，这意味着竞争对手可以建立类似的数字银行，并以极低的利润率进行竞争。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Shares of SoFi have dropped very steeply since November, although the firm's third-quarter showed commercial success regarding customer acquisition and product growth. SoFi also raised its forecast for FY 2021 revenues. Because of the 34% drop in pricing since November, SoFi's revenue and member growth is now heavily discounted again. SoFi - next to PayPal, Alibaba and Palantir - is a stock I am buying during this year-end sale!</p><p><blockquote>自11月以来，SoFi的股价大幅下跌，尽管该公司第三季度在客户获取和产品增长方面取得了商业成功。SoFi还上调了对2021财年收入的预期。由于自11月以来定价下降了34%，SoFi的收入和会员增长现在再次大打折扣。SoFi——仅次于PayPal、阿里巴巴-SW和Palantir——是我在这次年终促销期间购买的股票！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4473484-sofi-stock-tremendously-undervalued-buy\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://seekingalpha.com/article/4473484-sofi-stock-tremendously-undervalued-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186769572","content_text":"Summary\n\nShares of SoFi are back in a buy-the-drop situation.\nIn the last 18 trading days, SoFi finished green only 3 times.\nSoFi’s member and revenue growth is now deeply discounted.\n\nNicoElNino/iStock via Getty Images\nShares of SoFi Technologies(NASDAQ:SOFI)are in a short term downtrend that is chiefly defined by macro risk factors, not the digital bank's commercial performance. Because SoFi's member and revenue growth has become too cheap, once again, I am buying!\nSoFi: A bank in your pocket for all your financial needs\nIt is hard to decide where to invest my money these days because the correction of growth stocks is creating more bargains than I could possibly buy. I have already bought PayPal(NASDAQ:PYPL), because of its revenue growth and Venmo/Amazon(NASDAQ:AMZN)partnership, Alibaba(NYSE:BABA), because of its cheap e-commerce growth, Palantir(NYSE:PLTR), because of a large and expanding government business, and now SoFi.\nSoFi experiences rapid member and revenue growth because of the firm's easy-to-use personal finance app and roll-out of new financial products in segments like cryptocurrencies, credit cards and investing services. SoFi is a \"bank in your pocket\", offering everything from home loans to student loan refinancings and insurance products to protect your family. SoFi's product offerings have expanded greatly during the pandemic and the digital bank offered 4.3M different products to its member base in the September quarter, showing an increase of 108% year over year. The majority of such offerings relate to financial services which serve a customer base that has shown appetite for new investment products, like fractional investing or digital currencies.\n(Source: SoFi)\nAs you may already know, SoFi's business soared during the pandemic. As people were forced to work remotely, mostly from home, SoFi's personal finance platform experienced a surge of customer sign-ons, and this surge is lasting to this day. SoFi's customer base swelled to 2.94M in the third-quarter. During the pandemic - the period between Q4'19 and Q3'21 - SoFi added 1.96M new members to its ecosystem, dramatically expanding the firm's cross-selling potential. This means that SoFi tripled its customer base in the last seven quarters and acquired an average of 93 thousand members every month since January 2020. SoFi's customer acquisition rate, however, has slowed this year because people have started to return to work and lockdown measures were eased. SoFi's member growth in the third-quarter was still 96% year over year, but it marks a slowdown from Q1'21 and Q2'21 where member growth rates exceeded 100%.\n(Source: SoFi)\nSoFi added 126 thousand new members to its platform each month in the third-quarter. If SoFi can add around 120 thousand new members to its ecosystem each month in the fourth-quarter, which is possible and plausible, the personal finance company is set to end the year with around 3.3M members. Although SoFi may experience a continual slowdown in customer sign-ups post-pandemic, the firm is set to continue to grow at very high rates in the future. I estimate that SoFi will be able to build up its member base to around 9M members by FY 2026.\nThe personal finance business is working hard on becoming a one-stop-shop and offer customized lending and investing products to every single member in its ecosystem. And there is a tremendous opportunity for continual momentum in customer acquisitions. This is because about half of Americans use at least two different banks to cover their financial needs, based on information from Go Banking Rates. SoFi, through its easy-to-use personal finance app and massive growth in the number of lending and financial service products, is uniquely positioned to sign on millions of new customers this decade.\n(Source: Go Banking Rates)\nSoFi's growth is undervalued\nBecause of the ongoing ramp in customer acquisition and revenue momentum, I believe that SoFi's drop in pricing is creating a unique opportunity to buy this undervalued growth stock. In the last eighteen trading days, SoFi traded down in fifteen days. The drop in pricing occurred chiefly because a set of macro factors is weighing on the market, including Omicron variant concerns, high inflation and a supply chain crisis that still has not been solved.\nData by YCharts\nBecause of this undeserved drop in pricing, shares of SoFi now offer revenue growth that is 34% cheaper than in November. SoFi is expected to do sales of around $1.0B this year, based on the firm's guidance, which was raised from $980M last quarter. The revenue forecast for FY 2021 implies between 61% and 63% revenue growth.\n(Source: SoFi)\nFor FY 2022, SoFi is projected to see $1.5B in revenues, implying a year over year revenue growth rate of 47%. SoFi is set to continue to grow much faster than most companies until, at least, FY 2025, which means the P-S ratio is set to drop rapidly.\n(Source: Seeking Alpha)\nRisks with SoFi\nAs the economy moved on from the COVID-19 pandemic, SoFi's member and revenue growth has started to slow. SoFi still added the second-highest number of new members to its platform in the third-quarter, but acquisition growth is slowing. This suggests that growth will continue to moderate unless, for reasons that would also be very concerning, the Omicron variant leads to a reboot of the pandemic, with additional vaccine requirements and shutdown orders to mitigate the spread of this variant.\nCommercially speaking, SoFi will face tougher competition from other FinTechs and banks in the future that will do everything they can to resist SoFi's disruptive digital bank model. SoFi's personal finance platform itself has no moat, however, which means rivals can build similar digital banks and compete on aggressively low margins.\nFinal thoughts\nShares of SoFi have dropped very steeply since November, although the firm's third-quarter showed commercial success regarding customer acquisition and product growth. SoFi also raised its forecast for FY 2021 revenues. Because of the 34% drop in pricing since November, SoFi's revenue and member growth is now heavily discounted again. SoFi - next to PayPal, Alibaba and Palantir - is a stock I am buying during this year-end sale!","news_type":1,"symbols_score_info":{"SOFI":0.9}},"isVote":1,"tweetType":1,"viewCount":2038,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/608741679"}
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