SoFi Technologies Stock Pulls Back After Earnings

The shares haven't had a negative post-earnings day yet

Deputy Editor
May 1, 2023 at 10:41 AM
facebook X logo linkedin


SoFi Technologies Inc (NASDAQ:SOFI) stock has reversed its earlier surge, down 5.5% to trade at $5.88 at last glance. The financial services name announced narrower-than-expected first-quarter losses per share and a revenue beat, but the shares are on track for their first-ever negative post-earnings close (having gone public late 2020). Year-to-date, the equity is up 25.4%. 

Over in the options pits, options bulls are taking charge, with 131,000 calls and 42,000 puts exchanged so far -- eight times the intraday average volume. The weekly 5/5 6-strike call is the most active contract, with new positions being opened there. 

Calls were more popular than usual leading up to the earnings event as well. SOFI's 10-day call/put volume ratio of 6.92 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 96% of readings from the past year. 

Analysts have yet to chime in today, with six of the 10 in coverage carrying a "strong buy" rating, and the remaining four a "hold." The 12-month consensus price target of $7.88 is a roughly 37% premium to current levels. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI