SoFi Sees 8 Price Target Moves as Wall Street Reacts to Earnings
We're making a defensive move on the financial services firm.
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Some $10K Portfolio stocks were in the news on Wednesday and Thursday.
Evolv Technologies (EVLV)
On Thursday morning, Spartanburg School District Five in South Carolina announced a partnership with Evolv Technologies (EVLV) revealing the impact that advanced security screening has had on their students and staff.
The findings highlight what has been seen as positive student sentiment, efficient arrival flow and strong system usability at Byrnes High School in Duncan. Spartanburg School District Five uses a combination of Evolv Express systems on its 14-school campus, and Evolv eXpedite units at their high school as part of their layered security approach to school entry.
On Wednesday, news broke that Evolv Technologies had entered a multi-year partnership with the professional soccer club Philadelphia Union of the MLS. Evolv Express concealed weapons detection systems are being utilized for entry screening throughout Subaru Park, which is the team's home park. The Philadelphia Union have designated Evolv as the team's "Official Fan Screening Partner" and has given the company a media presence inside Subaru Park.
Ocular Therapeutix (OCUL)
On Wednesday, Ocular Therapeutix (OCUL) announced that the first patient had been enrolled in the SOL-X long-term extension trial for Axpali, which is the firm's candidate for the treatment of wet age-related macular degeneration.
On Wednesday, analyst Lachlan Hanbury of Wiliam Blair reiterated his "buy" rating on OCUL as well as his $21 target price. Hanbury is rated at four stars out of five at TipRanks. Over the past two years, his picks have had a 40% success rate producing an average return of 3.7%.
On Thursday, analyst Yi Chen of HC Wainwright reiterated his "buy" rating on OCUL as well as his $21 target price. Chen is rated at one star out of five at TipRanks. Over the past two years, his picks have had a 40% success rate producing an average return of -1.1%.
Planet Labs (PL)
On Thursday, Planet Labs (PL) announced a plan to design a specialized version of the Tanager spacecraft. Together with Carbon Mapper, and with support from the Jet Propulsion Laboratory, the firm plans to design a cutting-edge spacecraft as a specialized iteration of Tanager that will target shortwave infrared in order to capture five times the area coverage of the other Tanager satellites.
Palantir Technologies (PLTR)
On Wednesday, analyst Dan Ives of Wedbush reiterated his "buy" rating on (PLTR) as well as his $230 target price. Ives is rated at five stars out of five at TipRanks. Over the past two years, his picks have had a 52% success rate producing an average return of 13%.
On Thursday, analyst Param Singh of Oppenheimer initiated a "buy" rating on PLTR as well as a $200 target price. Singh is rated at two stars out of five at TipRanks. Over the past two years, his picks have had a 50% success rate producing an average return of 2.8%.
SoFi Technologies (SOFI)
On Thursday, SoFi Technologies (SOFI) saw its price target lowered:
- To $25 from $33 at Needham
- To $16 from $18 at Morgan Stanley
- To $18 from $26 at Deutsche Bank
- To $18 from $24 at TD Cowen
- To $17 from $20 at Goldman Sachs
- To $25 from $26 at Stephens
- To $21 from $24.50 at UBS
- To $16 from $17 at Keefe Bruyette
(The $10K Portfolio has a $23 target price on SOFI.)
Upcoming Portfolio Earnings
-Palantir Technologies (PLTR) after the closing bell, Monday, May 4 (Star Wars Day)
-Ocular Therapeutix (OCUL) ahead of the opening bell, Thursday, May 5
-Snap (SNAP) after the closing bell, Friday, May 6
Wednesday's Intention vs Wednesday's Actual Trade
Intention: Purchase 25 shares of SOFI at or close to the last sale of 15.92
Actual Trade: Purchased 25 shares of SOFI at $15.77
Thursday's Intentions
We're creating some cash on Thursday morning by selling a covered call against the SOFI long equity position. We're OK if we end up in the red on the call. In fact, we prefer it. This move not only creates some cash, it improves the basis.
Intention: Sell (write) one SOFI August 21 $20 call for about $1.10
Current Positions
Long 100 shares of (BBBY) at $5.05. Last sale: $4.93.
Long 50 shares of EVLV at $6.0898. Last sale: $7.15.
Long 25 shares of (MBLY) at $8.92. Last sale: $8.73.
Long 150 shares of OCUL at $8.305. Last sale: $9.20.
Short one OCUL $12 June 19 call at $0.65, Last sale: $0.50.
Long 125 shares of (ONDS) at $9.4749. Last sale: $9.81.
Short one ONDS $13 June 19 call at $0.84. Last sale: $0.55.
Long 10 shares of PL at $37.18. Last sale: $35.83.
Long 10 shares of PLTR at $141.29. Last sale: $139.21.
Long 10 shares of (RKLB) at $65.173. Last sale: $81.23.
Long 125 shares of (SIDU) at $2.725. Last sale: $3.26.
Long 100 shares of SNAP at $5.9034. Last sale: $6.02.
Short one SNAP $7 June 19 call at $0.45, Last sale: $0.39.
Long 175 shares of SOFI at $15.9573. Last sale: $16.21.
Long 40 shares of (VELO) at $10.93. Last sale: $13.50.
Cash: $288.06
Portfolio Value: $10,763.16, +7.6% from inception on March 24.
Related: The Fed Isn’t Losing Control—It’s Sending a Message
At the time of publication, Guilfoyle was long BBBY, EVLV, MBLY, OCUL, ONDS, PL, PLTR, RKLB, SIDU, SNAP, SOFI and VELO.
