SoFi stock rallied Tuesday after the financial technology company raised its 2025 guidance.
SoFi rose nearly 3% to 13.57 in morning trades after the company also reported a record 800,000 new members in the quarter.
The company "delivered our highest revenue growth rate in five quarters, driven by new records in members, products, and fee-based revenue," CEO Anthony Noto said in a statement.
"We are off to a tremendous start in 2025," he added.
SoFi said it now has 10.9 million members, up 34% from the previous year.
The company projects adjusted net revenue of $3.2 billion to $3.3 billion, up $35 million from its previous guidance. SoFi expects earnings of 27 cents a share to 28 cents a share, compared to a previous estimate of 25 cents a share to 27 cents a share.
SoFi stock advanced for a sixth straight day and was on track to record a fourth week of gain, according to IBD MarketSurge. The stock has Relative Strength rating of 95, up from 84 a week ago.
