SoFi Stock Set to Rise on the Company’s Growth

An increasing brand presence should drive member growth; its integrated technology platform, Galileo, is a competitive advantage that allows for a seamless cross-buying experience aimed at a digitally native younger cohort; it has strong unit economics across its products; we expect credit quality to be stronger than peers, given that its borrowers are at the higher end of the credit spectrum, with an average FICO of 750; and the company’s pending bank charter [approved on Jan. 18] should accelerate earnings growth, in our view. The company is a one-stop shop for financial services, and this is a significant competitive advantage over neobank competitors that tend to focus on niche offerings rather than the full financial picture. This year will be a breakout year for Plug Power as the company begins its green hydrogen production ramp in North America; scales its gigafactory in New York, and breaks ground on a new gigafactory in South Korea with its partner SK Group; begins delivering vehicles in France through the Renault joint venture; adds incremental pedestal customers in materials handling; accelerates electrolyzer sales globally; and integrates recent acquisitions.

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