Tuesday, May 03, 2022 9:28:02 AM
Source: Finscreener.org
Penny stocks are those priced under $10 but are considered high-risk investments due to the volatility associated with these tickers. However, ever the world’s largest companies such as Amazon (NASDAQ: AMZN) and Apple (NASDAQ: AAPL) were once penny stocks and now command trillion-dollar valuations.
While investing in penny stocks you need to analyze the company’s business model and its ability to gain traction in the market where they operate. Let’s take a look at three penny stocks investors can consider buying right now.
SoFi Technologies
Valued at $5 billion by market cap, shares of SoFi Technologies (NASDAQ: SOFI) are priced at $6.33 at the time of writing. The fintech company went public last year and is currently trading 75% below all-time highs.
SoFi offers customers a wide range of financial products that include refinancing of student and auto loans. It also provides mortgages, credit cards, personal loans, and investing services on its platform.
The company’s sales grew by 63% year over year to $1.01 billion in 2021. SoFi ended the last year with a customer base of 3.5 million, indicating year-over-year growth of 87%. But similar to most other growth stocks, SoFi also reports an adjusted loss.
In 2021, its loss per share stood at $1 and is forecast to narrow to $0.45 in 2022 and $0.24 in 2023. Comparatively, its revenue is estimated to rise by 45% to $1.47 billion in 2022 and by 42.4% to $2.1 billion in 2023.
SoFi’s widening product portfolio allowed the company to onboard 523,000 customers in Q4. It also added 900,000 product accounts bringing its total to 5.2 million, compared to 2.5 million in 2020.
SoFi is valued at an attractive forward price to 2022 sales multiple of 3.4x and continues to grow at an aggressive pace. Compared to Wall Street estimates, SoFi stock is trading at a discount of 120% right now.
Recent SOFI News
- SoFi Schedules Conference Call to Discuss Q2 2024 Results • Business Wire • 07/01/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/20/2024 02:51:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/19/2024 12:36:08 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/19/2024 12:31:07 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 08:24:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/13/2024 09:04:19 PM
- Consumers Are Crowdsourcing Their Financial Services, While Banks Risk Losing Primary Status • Business Wire • 06/11/2024 12:20:00 PM
- SoFi to Participate in Upcoming Investor Conference • Business Wire • 06/05/2024 09:00:00 PM
- SoFi Appoints Stephen Simcock as General Counsel • Business Wire • 06/03/2024 04:04:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 10:11:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 10:09:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 10:07:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 08:15:35 PM
- SoFi Strengthens Lending Capabilities with $350 Million Personal Loan Securitization Placement with PGIM • Business Wire • 05/21/2024 01:00:00 PM
- U.S. Futures Rise in Pre-Market Trading Amid Key Federal Reserve Meeting and Earnings Week Ahead • IH Market News • 04/29/2024 11:12:54 AM
- SoFi Technologies Reports Q1 2024 Net Revenue of $645 Million and Net Income of $88 Million, Marking Second Consecutive Quarter of GAAP Profitability • Business Wire • 04/29/2024 11:00:00 AM
- Rapid Finance Taps SoFi, Galileo to Enable Rapid Access Mastercard for Small Business Financing • Business Wire • 04/16/2024 12:00:00 PM
- SoFi Announces New Partnership with #4 World Ranked Professional Golfer and Reigning U.S. Open Champion Wyndham Clark • Business Wire • 04/09/2024 02:00:00 PM
- Tesla Resolves Autopilot Lawsuit, JPMorgan Unveils Potential CEO Successors, and More • IH Market News • 04/09/2024 10:39:30 AM
- SoFi Schedules 2024 Annual Meeting of Stockholders • Business Wire • 04/08/2024 09:00:00 PM
- SoFi Schedules Conference Call to Discuss Q1 2024 Results • Business Wire • 04/02/2024 12:00:00 PM
- Galileo Expands Buy Now Pay Later Solution to Include Post-Purchase Options for Credit and Debit • Business Wire • 03/19/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/08/2024 10:23:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/08/2024 10:22:50 PM
- Airship AI skyrockets with DOJ contract; Carrier Global sells Fire Industrial division for $1.43 billion, and Latest News • IH Market News • 03/06/2024 11:01:03 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM