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Sofi shares have more than doubled their value since hitting a one-to-date low in early April
Sofi Technologies, a personal finance technology company (sofa) plans to report quarterly results before the market opens on Tuesday, and traders expect a considerable stock transfer.
Option pricing shows that investors expect Sofi shares to last about 9.4% in either direction in the days after Tuesday’s report. The move will put Sofi's stock price at $23.19, the highest since 2021, or $19.21, and low in nearly four weeks, according to last week's closing price of $21.20.
Sofi shares have gained an average of 4.6% after four recent earnings reports. In January, stocks fell more than 10% when the company issued disappointing full-year guidance, but stocks rose 0.5% after reporting record net income and boosting guidance in late April.
Sofi shares have risen about 35% since the beginning of the year. The stock fell throughout March and early April due to macroeconomic uncertainty. At the lowest, a year's decline was as much as 40%. But since early April, trade deals and resilient economic data have helped boost stocks by about 120%.
Analysts are usually lukewarm about stocks at current prices. Of the 11 analysts tracked by Visible Alpha, Sofi shares are currently rated as “Hold” while two rates are “Buy” and two propose to sell. On Friday, the average price target was $15.44, about 27% below the stock's closing price.
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