**SoFi Technologies Update**
SoFi Technologies (NASDAQ: SOFI) reported a 41% increase in net revenue year-over-year in its first quarter while gaining 1.1 million new members. As of June 3, shares were trading at $16.68, down 32% year-to-date, which analysts suggest places them back in attractive investment territory with a forward P/E ratio of 27.
The company continues to expand its reach, aiming to provide a comprehensive digital financial platform, and has recently relaunched its SoFi Plus suite under a $10-a-month subscription model aimed at generating recurring revenue. Over the past three years, SoFi shares have averaged annual gains of 36% and gained nearly 30% over the past year, although they have faced challenges due to a recent short-seller report.
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