SoFi Technologies Inc Stock News

More gains may still be ahead for SOFI stock. The economic background looks much more conducive to SoFi's growth.

It's been a hot couple of weeks for the fintech sector. Digital banking platform Chime Financial (CHYM -6.70%) and stablecoin operator Circle (CRCL 21.10%) both completed initial public offerings (IPOs) in which shares of both companies soared.

The share price of SoFi Technologies (SOFI -0.91%), an online bank and leading financial technology (fintech) company, has more than doubled over the past year. The San Francisco-based company has done a great job of expanding its services to appeal to a wider consumer base, which in turn has pushed sales and earnings -- along with SoFi's stock price -- higher.

SoFi Technologies Inc.'s (NASDAQ: SOFI) chief executive officer recently stated at a conference that the fintech company has targeted 30% member growth and 20% revenue growth.

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SoFi (SOFI 6.34%) has been a strong performer for investors, with shares up by 135% over the past year, but the stock is still a long way from its all-time high.

SoFi stock (NASDAQ: SOFI) has seen a significant increase of over 15% in the past month. This surge appears to be partly fueled by the successful IPO of Chime, which seems to have had a positive ripple effect across the broader fintech sector.

SoFi (NASDAQ:SOFI) is up by 7% year-to-date, but it can feel disappointing when comparing it to other fintech stocks like Sezzle (NASDAQ:SEZL) and Dave (NASDAQ:DAVE), both of which have more than tripled and doubled year-to-date, respectively.