Jim Cramer Discusses SoFi's Valuation

SoFi Technologies, Inc. (NASDAQ:SOFI) is one of the stocks Jim Cramer shed light on. Given the stock’s recent pullback, a caller asked if it is a good time to buy, sell, or hold it. In response, Cramer said:

“Okay, SoFi stock is right now enjoying, I could say, a pullback, and I don’t want to buy it until I think we’re further along in the pullback because now it got a very high price-to-earnings multiple. Why don’t we wait to see if it can’t, you can’t get this stock at $20. You can buy a little, 23 say, but I don’t want you to pay at these prices.”

SoFi Technologies, Inc. (NASDAQ:SOFI) provides lending, banking, investment, and insurance services through digital platforms. The company offers personal, student, and home loans, cash management, investment tools, credit cards, and financial wellness products. Answering a caller’s query during the November 3 episode, Cramer called it an “amazing company,” as he stated:

“Okay, SoFi, I think, is an amazing company. I think it is run terrifically by Anthony Noto, a very old friend, of now more than 30 years. I think it’s resting right here, and then it’s going to go up again. It and Affirm are my two favorite so-called fintechs because they do far more than what people think they do.”

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Disclosure: None. This article is originally published at Insider Monkey.