Hey everyone, have you heard the news about SoFi Technologies (NASDAQ:SOFI)? This fintech company is killing it and smashing through all the worries. Analysts are saying that concerns about SOFI’s competitive edge and the potential impact of rising interest rates are totally overblown. In fact, Mizuho analyst Dan Dolev just raised the price target of SOFI stock to $9 from $6! And get this: SOFI beat its revenue forecast for the fourth quarter of 2022 and even posted a narrower loss per share than expected. Plus, management is projecting full-year 2023 adjusted EBITDA to hit between $260 million to $280 million, which is even higher than analysts’ expectations. But before you get too excited, keep in mind that SOFI stock did lose about 43% of its value over the last year due to the Federal Reserve’s monetary policy. However, things are looking up now with a 6% gain just on Wednesday alone and nearly a 59% gain for the year so far. And while the average price target is $7.61, implying about 6% upside potential, the consensus rating is still a moderate buy. Moving on to Palantir Technologies, this company builds and deploys software platforms for the intelligence community. While Palantir did show solid growth and even a surprise GAAP net profit in its fourth-quarter earnings report, William Blair analyst Louie DiPalma issued a downbeat note on Tuesday. He pointed out that many of the company’s government contracts are up for renewal soon and the government may be considering switching to lower-cost open-source solutions instead of Palantir’s expensive software. If any of Palantir’s big contracts aren’t renewed, it could be a huge blow to the company and its investors. So, while Palantir currently has a Zacks Rank #2 and an expected earnings growth rate of 233.3%, it’s definitely not without risk. Lastly, let’s talk about Nio (NYSE:NIO), a company planning to expand its presence in the electric vehicles market by building its first battery plant in China. This move could really strengthen its global position and increase its market share. Plus, Nio has plans to launch five new models in the first half of 2023! Wall Street is cautiously optimistic about NIO stock with a moderate buy consensus rating and an average price target of $17.13, implying almost 75% upside potential. And while shares have only gained about 2% since the start of the year, there’s a lot of potential for growth here. Keep an eye on Nio, folks!
#sofistock #palantir #niostock
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