Hey, financial fanatics! If you’ve been following our research, you’ll know that SoFi Technologies (NASDAQ:SOFI) is on fire right now! And get this, they don’t even need Biden’s student debt forgiveness plan to reward shareholders! The Supreme Court seems set to block the plan by June, which is great news for SOFI shareholders! And I remain ultra-bullish on the stock after it dipped back below $6 due to contagion fears from the SVB Financial Group (SIVB) collapse. Last week, the Supreme Court heard the oral arguments on why the Biden Administration’s student debt forgiveness plan was illegal, and initial comments suggest several questions on the President’s authority to forgive $400 billion worth of debt without Congress’s approval. But who cares?! SoFi is more concerned about the resolution of the student debt moratorium issue than whether the Supreme Court blocks the forgiveness plan. And guess what? CEO Anthony Noto spent nearly $1 million buying more SoFi shares at $5.53 in a massive sign of confidence in the business! The CEO also bought over $4 million worth of shares back in December when the stock fell into the $4s! SoFi is falling due to irrational fears from the bank contagion fears when the market should be focused on the likely possible positive outcomes from the Supreme Court ruling on student debt. Plus, Nuvei (TSE:NVEI) (NASDAQ:NVEI), a Canadian payment technology solutions company, reported its Q4-2022 and full-year earnings results, as well as its financial outlook. And let me tell you, their revenue and earnings per share (EPS) beat analysts’ expectations, sending the stock higher! Revenue grew to $220.3 million (4% growth), which beat expectations of $218.5 million. And on a constant-currency basis, revenue grew by 10% – and all in U.S. dollars, baby! Their adjusted diluted earnings per share were flat year-over-year, coming in at $0.47, but this was still ahead of the $0.44 consensus estimate. According to analysts, Nuvei has a Strong Buy consensus rating based on five unanimous Buy ratings assigned in the past three months. But wait, there’s more! Axcelis Technologies (NASDAQ:ACLS) is killing it with not only revenues, but also profits! Their EPS shot up from US$2.94 to US$5.60 over the last year, with a 90% year-on-year growth rate – can you believe it?! And their EBIT margins improved by 3.9 percentage points to 23%, over the last year. Talk about quality growth! And last but not least, Asure Software (ASUR) is a great buy when it comes to software companies! They offer cloud products, solutions, and platforms for a variety of markets. Plus, they have a Zacks Rank #1 (Strong Buy)! Their earnings estimate revisions have gone up 25% for FY23 over the last 30 days, and Asure’s fiscal 2023 earnings are now projected to leap 133% to $0.35 per share compared to EPS of $0.15 in 2022! And FY24 earnings are expected to climb another 27%! Sales are forecasted to jump 10% in FY23 and rise another 10% in FY24 to $116.60 million. So, folks, Allegro MicroSystems and Asure Software’s top and bottom line growth remain very extractive as both companies have continued to expand over the last few years. The rising earnings estimate revisions are a good sign that this growth will continue and that there could be more upside for these tech stocks!
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.
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