SoFi: Irrational Hit Again
Update - May 9
The dip in SoFi following Q1 earnings was insane. The stock has shown a nice bounce back to $5.50 already. SoFi should trade back to yearly highs with blowout growth and profits.
Original article posted on May 1
- SoFi Technologies, Inc. dipped again following strong Q1 quarterly results.
- The fintech reported another quarter with strong adjusted EBITDA profits of $76 million, which equate very close to adjusted profits.
- SoFi Technologies, Inc. stock is now very cheap, trading at only 10x '24 adjusted EBITDA targets.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
The market doesn't like companies reporting losses right now, and SoFi Technologies, Inc. (NASDAQ:SOFI) is probably making a mistake pointing to a GAAP profit goal. The fintech continues to blow away financial targets while outgrowing most stocks, yet SoFi can't maintain any rally. My investment thesis remains ultra-Bullish on the stock, especially on this 12%+ dip following an irrational hit after a strong earnings report.
Read the full article on Seeking Alpha.
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