SoFi will likely do good amidst the ‘volatility’: CEO Anthony Noto

SoFi Technologies Inc (NASDAQ: SOFI) has taken quite a beating in 2022, now down nearly 65% year-to-date. Still, CEO Anthony Noto says the personal finance company is well-positioned to benefit from the rising rates.

CEO Noto’s remarks on a CNBC interview

There’s been unrest in the equity market for months as investors continue to grapple with the prospects of a soft landing. Explaining how that helps SoFi, Noto said on an exclusive CNBC interview:

He reiterated the guidance for a 50% year-on-year growth in revenue to $1.50 billion in 2022. Noto has been loading up on shares of SoFi Technologies this year – another sign of his confidence in the company’s future.  

SoFi Technologies is expanding market share

Noto is also convinced the changes President Biden proposed to student loan will likely be a “net positive” for the Nasdaq-listed company that’s lately been expanding its market share. He added:

In May, SoFi Technologies reported better-than-expected results for its fiscal first quarter. Wall Street, on average, sees a more than 70% upside in the stock from here.