SoFi Technologies (SOFI-Q)

It's moved up because it's much more of a service provider stock than a lender now, but it needs to digest. Let shares come down first before stepping in.

With a 76% one year gain, it was not overly surprising to see some profit-taking. The quarter was solid as was the outlook and commentary. There was record member growth and loan originations. New products/services add more potential. We think it is buyable and are warming up to this name. 
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It reports Monday. He's long liked it, but short-sellers keep it down for no reason. He expects good numbers. Likes the CEO.

Is up 79% in the past year. Sell half, take profits.

We have done more work on its ability to compete in a crowded market and are more comfortable there. The recent results and the stock momentum have also certainly been big positive factors. It has good potential, we think, if it can continue to execute. One minor concern: it is a very very popular social media stock. While still relatively small, it is hardly unknown. This is not necessarily bad but can increase volatility if the majority of holders are trading/retail. 
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Online banking. In that space, he prefers bricks & mortar and steady-eddy banks that are diversified coast to coast. In the US, he owns JPM.

They got some new, big backers. Have a great CEO. It's breaking out, so shorts will have to cover.

SOFI has had several pieces of good news recently, and is now up on the year (slightly) after being down significantly. It is up 75% from its August low. The momentum shift is impressive, and EPS is expected to more than double next year. If it can execute, the mid-cap stock could get more attention. Estimates have been ticking up, and the last quarter nicely beat estimates. We would be OK taking an initial position in the $9.75 range. 
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Firmly believes in the CEO. Is not an interest rate stock, but a tech one.

Their risk/reward is positive now.

SOFI generated positive EPS of 1c beating analysts estimates that the company would breakeven for the quarter, and improving from a 6c loss in the year prior. Total revenue also beat estimates of $564.39M coming in at $598.62M displaying a 20% year-over-year increase. The company also increased guidance for 2024 expecting EPS between 9c-10c, ahead of estimates of 8c. Q3 guidance was also 1c greater than  analyst estimates of 3c. Management expects to add 2.3 million new memebers in 2024, dispakyin 30% growth. This looks to be a solid quarter for SOFI, beating estimates and upping guidance but the market reaction has been muted. 
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Recent insider buying is a good sign, but their last quarter was not great.

Latest equity offering not performing well. Would not recommend buying.