<p><strong>SoFi Technologies</strong>(SOFI -1.71%) 股票今年表现波动较大。去年曾取得复苏进展，股价翻倍，但截至 2024 年最后一个季度，年初至今下跌了 19%。</p>
<p>让我们深入了解一下 SoFi 的情况，为什么投资者感到失望，以及现在是否是一个合适的购买时机。</p>
<h2>时机恰到好处的银行</h2>
<p>SoFi 最初是一家学生贷款合作社，作为一家由应届毕业生创立的年轻银行，它针对学生和年轻专业人士，提供符合他们口味的用户界面。它是一家全数字化银行，提供高存款利率、低费用和易于使用的平台，符合年轻、数字化精通的客户的需求。</p>
<p>SoFi 目前有很多积极的方面。它吸引了数十万新客户，并推出了更多新产品，收入以两位数的速度增长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83ODkzMTMvc29maS1tZW1iZXItZ3Jvd3RoLXEyLTI0LnBuZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83ODkzMTMvc29maS1tZW1iZXItZ3Jvd3RoLXEyLTI0LnBuZyZ3PTcwMA"/></p>
<p>图片来源：SoFi。</p>
<p>SoFi 于 2022 年收购了 Pacific Bancorp 并获得了银行特许经营权，不断扩大其产品和服务线。这有助于增加会员的参与度，提高收入，并减轻将所有业务都放在贷款上的风险。这使得 SoFi 能够在高利率环境下保持增长，当时贷款面临压力。</p>
<p>这也带来了规模化和利润。SoFi 在 2024 年第二季度连续第三次实现盈利，并预计将保持盈利。第二季度后，它提高了业绩指引，华尔街分析师预计 2024 年每股收益为 0.10 美元，2025 年为 0.26 美元。</p>
<p>那么问题出在哪里呢？</p>
<h2>现在对于任何银行来说都不是合适的时机</h2>
<p>SoFi 是一家金融科技公司。它不是您传统的、成熟的银行，没有可靠的现金流和吸引人的股息。它仍在努力朝着这些特点发展。其技术聚焦导致了其一直在报告的强劲增长，但另一方面也带来了风险和波动性。</p>
<p>SoFi 目前面临的情况是，贷款业务部门，即较大的部门，增长放缓。这也在很大程度上导致了 SoFi 的新利润，如果增长放缓或减少，投资者就会感到担忧。</p>
<p>让我们看看第二季度的情况。总收入同比增长 20%，实现了 1700 万美元的净利润。金融服务和技术平台，即其两个非贷款业务部门，同比增长 46%。听起来很不错。</p>
<p>更深入地挖掘，您会注意到贷款业务部门的收入仅同比增长 3%，仍占收入的大部分——55%。此外，其贡献利润为 1.98 亿美元，较去年增长 8%。其他部门的综合贡献利润仅为 8600 万美元。至少目前来看，尽管管理层大谈其扩张模式的实力，但贷款仍然是 SoFi 的支柱。</p>
<h2>SoFi 股票触底了吗？</h2>
<p>SoFi 股票今年波动较大，市场难以定价。虽然有很多利好，但也存在明显的担忧。到目前为止，担忧一直占据上风。</p>
<p>然而，情况可能开始发生变化。首先，如果利率开始下降，贷款业务部门应该会得到一定提振。目前，即使增长放缓，也有令人鼓舞的结果。第二季度，各类贷款产品同比增长 19%，放款量增长 22%。随着房地产行业的复苏，尤其是抵押贷款，应该会开始加速。</p>
<p>市场已经察觉到这一点，SoFi 股票在过去一个月上涨了 16%。如果您有很强的风险承受能力，这看起来是一个不错的买入机会；这种机会不太可能持续太久。如果您对一些风险有一点胃口，您可能希望以这个价格建立一小仓位。</p>

SOFI

<p>SoFi Technologies（SOFI）股票今年以来波动较大，尽管去年有强劲的回升，但已下跌 19%。这家面向年轻专业人士的金融科技公司虽然实现了收入增长，但在贷款业务方面面临挑战，仅同比增长 3%。然而，随着总贷款产品增长 19% 和最近股价上涨 16%，分析师表示，对于那些风险承受能力较高、利率可能下降的投资者来说，这可能是一个不错的买入机会</p>

<p><strong>SoFi Technologies</strong>(SOFI -1.71%) stock has been volatile this year. It made progress on a comeback last year, doubling in price, but it's down 19% year to date as we close in on the last quarter of 2024.</p>
<div class="lb-trans"><p><strong>SoFi Technologies</strong>(SOFI -1.71%) 股票今年表现波动较大。去年曾取得复苏进展，股价翻倍，但截至 2024 年最后一个季度，年初至今下跌了 19%。</p>
</div><p>Let's get into what SoFi's all about, why investors have been disappointed, and whether or not it's a good idea to buy right now.</p>
<div class="lb-trans"><p>让我们深入了解一下 SoFi 的情况，为什么投资者感到失望，以及现在是否是一个合适的购买时机。</p>
</div><h2>The right bank at the right time</h2>
<div class="lb-trans"><h2>时机恰到好处的银行</h2>
</div><p>SoFi started as a student loan cooperative, and as a young bank started by recent grads, it targets students and young professionals with a user interface that speaks their language. It was developed as an all-digital bank, and it offers high savings rates, low fees, and an easy-to-use platform that check the boxes for its young, digital-savvy clientele.</p>
<div class="lb-trans"><p>SoFi 最初是一家学生贷款合作社，作为一家由应届毕业生创立的年轻银行，它针对学生和年轻专业人士，提供符合他们口味的用户界面。它是一家全数字化银行，提供高存款利率、低费用和易于使用的平台，符合年轻、数字化精通的客户的需求。</p>
</div><p>There are many things going right at SoFi. It's attracting hundreds of thousands of new customers and adding even more new products, and revenue is growing at double-digit rates.</p>
<div class="lb-trans"><p>SoFi 目前有很多积极的方面。它吸引了数十万新客户，并推出了更多新产品，收入以两位数的速度增长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83ODkzMTMvc29maS1tZW1iZXItZ3Jvd3RoLXEyLTI0LnBuZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F789313%2Fsofi-member-growth-q2-24.png&amp;op=resize&amp;w=700"/></p>
<p>Image source: SoFi.</p>
<div class="lb-trans"><p>图片来源：SoFi。</p>
</div><p>SoFi acquired Pacific Bancorp in 2022 and got a bank charter, and it's been expanding its line of products and services. That helps to increase engagement among its membership and generate higher revenue as well as mitigate the risk of putting all of its business in lending. That's allowed it to stay in growth mode throughout the high-interest-rate environment, when lending is under pressure.</p>
<div class="lb-trans"><p>SoFi 于 2022 年收购了 Pacific Bancorp 并获得了银行特许经营权，不断扩大其产品和服务线。这有助于增加会员的参与度，提高收入，并减轻将所有业务都放在贷款上的风险。这使得 SoFi 能够在高利率环境下保持增长，当时贷款面临压力。</p>
</div><p>It's also leading to scale and profits. SoFi reported its third consecutive quarterly profit in the 2024 second quarter, and it's expecting to stay profitable. It raised guidance after the second quarter, and Wall Street analysts are expecting earnings per share of $0.10 in 2024 and $0.26 in 2025.</p>
<div class="lb-trans"><p>这也带来了规模化和利润。SoFi 在 2024 年第二季度连续第三次实现盈利，并预计将保持盈利。第二季度后，它提高了业绩指引，华尔街分析师预计 2024 年每股收益为 0.10 美元，2025 年为 0.26 美元。</p>
</div><p>So what's the problem?</p>
<div class="lb-trans"><p>那么问题出在哪里呢？</p>
</div><h2>It's not the right time for any bank</h2>
<div class="lb-trans"><h2>现在对于任何银行来说都不是合适的时机</h2>
</div><p>SoFi is a fintech company. It's not your standard, established bank, with reliable cash flow and attractive dividends. It's still working its way toward those features. Its tech focus is leading to the strong growth it's been reporting, but the flip side of that is risk and volatility.</p>
<div class="lb-trans"><p>SoFi 是一家金融科技公司。它不是您传统的、成熟的银行，没有可靠的现金流和吸引人的股息。它仍在努力朝着这些特点发展。其技术聚焦导致了其一直在报告的强劲增长，但另一方面也带来了风险和波动性。</p>
</div><p>What's happening at SoFi is that the lending segment, which is the larger segment, has been reporting slow growth. It's also largely responsible for SoFi's new profits, and if growth is slowing down or decreasing, investors get worried.</p>
<div class="lb-trans"><p>SoFi 目前面临的情况是，贷款业务部门，即较大的部门，增长放缓。这也在很大程度上导致了 SoFi 的新利润，如果增长放缓或减少，投资者就会感到担忧。</p>
</div><p>Here's how it played out in the second quarter. Total revenue increased 20% year over year, and it posted a consolidated net profit of $17 million. Financial services and tech platform, its two nonlending segments, increased 46% year over year. Sounds fabulous.</p>
<div class="lb-trans"><p>让我们看看第二季度的情况。总收入同比增长 20%，实现了 1700 万美元的净利润。金融服务和技术平台，即其两个非贷款业务部门，同比增长 46%。听起来很不错。</p>
</div><p>Digging deeper, you'll notice that lending segment revenue increased only 3% year over year, and it still accounts for the bulk of revenue -- 55%. What's more, its contribution profit was $198 million, an 8% increase over last year. The other segments' combined contribution profit was only $86 million. For now, at least, as much as management talks up the strength of its expansion model, lending remains SoFi's bread and butter.</p>
<div class="lb-trans"><p>更深入地挖掘，您会注意到贷款业务部门的收入仅同比增长 3%，仍占收入的大部分——55%。此外，其贡献利润为 1.98 亿美元，较去年增长 8%。其他部门的综合贡献利润仅为 8600 万美元。至少目前来看，尽管管理层大谈其扩张模式的实力，但贷款仍然是 SoFi 的支柱。</p>
</div><h2>Has SoFi stock bottomed out?</h2>
<div class="lb-trans"><h2>SoFi 股票触底了吗？</h2>
</div><p>SoFi stock has gone up and down this year as the market has found it difficult to price. There's so much good, but there are clear concerns. So far this year, the concerns have been winning out.</p>
<div class="lb-trans"><p>SoFi 股票今年波动较大，市场难以定价。虽然有很多利好，但也存在明显的担忧。到目前为止，担忧一直占据上风。</p>
</div><p>However, things might be starting to change. First and foremost, if interest rates start coming down, the lending segment should get a nice boost. As it is, even with the slowdown, there are encouraging results. Total loan products increased 19% over last year in the second quarter with a 22% increase in origination volume. As the housing industry rebounds, which could take a while, mortgages in particular should begin to accelerate.</p>
<div class="lb-trans"><p>然而，情况可能开始发生变化。首先，如果利率开始下降，贷款业务部门应该会得到一定提振。目前，即使增长放缓，也有令人鼓舞的结果。第二季度，各类贷款产品同比增长 19%，放款量增长 22%。随着房地产行业的复苏，尤其是抵押贷款，应该会开始加速。</p>
</div><p>The market is already sensing this, and SoFi stock is up 16% over the past month. If you have a strong risk tolerance, this looks like a good opportunity to buy shares on the dip; it isn't likely to last much longer. If you have even a small appetite for some risk, you might want to take a small position at this price.</p>
<div class="lb-trans"><p>市场已经察觉到这一点，SoFi 股票在过去一个月上涨了 16%。如果您有很强的风险承受能力，这看起来是一个不错的买入机会；这种机会不太可能持续太久。如果您对一些风险有一点胃口，您可能希望以这个价格建立一小仓位。</p>
</div>

SoFi 股票是否值得购买？