13 Best Meme Stocks To Buy Right Now

3. SoFi Technologies, Inc. (NASDAQ:SOFI)

Number of Hedge Fund Holders: 43

SoFi Technologies, Inc. (NASDAQ:SOFI) offers financial services across multiple regions, operating through its Lending, Technology Platform, and Financial Services segments. In 2021, it was one of the most talked-about stocks on Reddit. On January 28, Needham analysts raised the price target for SOFI stock from $13 to $20 while maintaining a Buy rating. The revision came after SoFi delivered a stronger-than-expected fiscal year-end performance. It ranks 3rd on our list of the best meme stocks.

SoFi Technologies, Inc. (NASDAQ:SOFI) saw record revenue growth last year, driven by an increase in both members and products. Adjusted net revenue reached $2.6 billion for 2024, reflecting a 26% year-over-year increase. The Financial Services and Technology Platform segments brought in a combined $1.2 billion, growing 54% from the previous year. Meanwhile, the Lending segment’s adjusted net revenue rose 11% to nearly $1.5 billion, fueled by record loan originations exceeding $23 billion, a 33% climb from the prior year. In the fourth quarter, total assets grew by $1.9 billion, including about $910 million from loan growth, $830 million from other assets, and $80 million from cash, cash equivalents, and investment securities.

According to Insider Monkey’s fourth quarter database, 43 hedge funds were bullish on SoFi Technologies, Inc. (NASDAQ:SOFI), compared to 31 funds in the prior quarter. D E Shaw was the leading position holder in the firm, with 31.3 million shares worth $482.3 million.