Digital bank and one-stop-shop financial services company SoFi (NASDAQ: SOFI) beat analysts' consensus estimates for the fourth quarter. While I do like SoFi's strategy of trying to be the one-stop banking solution for high-income earners, I find the company's high valuation perplexing, given that I don't see it possessing a substantial moat at this time. It has also grown its balance sheet quickly, and now has close to $8 billion of personal loans and $4.6 billion of student loans on its books, as well as $7.3 billion of deposits.