And SoFi has introduced a lot of products to monetize some of that increased engagement.īRAD SMITH: You know, it's particularly interesting on the engagement, especially for the customers that SoFi has. And we think that there will be a benefit, again, similar to last year this fall where you start seeing some of that engagement increase. A lot of their marketing is aligned to the NFL. So I think that's the first call.Īnd the second piece of analysis, you know, we did some analysis with Google Trends data, with Sensor Tower data looking at engagement, application usage of SoFi app downloads, and it seems that, you know, they really do get a benefit from that NFL-aligned marketing. So we think that will be a big driver and volume will bounce back from here. And keep in mind, SoFi really focuses on the super prime, graduate, school-type borrowers. Now, with repayments coming back, borrowers are incentivized to look at other options, look maybe to lower their payments, change their terms. It's a product that they've had the most experience in and they were doing $2 billion of refinance volume a quarter. The biggest thing on that, I think what investors should keep in mind, is for the last few years, there's been really no incentive for borrowers to refinance their federal student loans.įor SoFi, that's been a bit of an issue because, you know, this was- it's their most profitable product. I think the driver of our call, as you said, is student debt repayments coming back. Good morning and thank you for having me on. Take us through your thesis on how football and NFL could benefit this stock. Let's get into this call with the analysts making it, B-of-A Securities Analyst Mihir Bhatia. The bank raised SoFi's rating to a buy with a $9.00 price target. ![]() BRIAN SOZZI: Switching gears here, the return of student debt payments and football can make SoFi shares a touchdown, at least that's what Bank of America thinks.
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