🎁Pick Your Next Winner Target For August: $SOFI, $PLTR, $ADBE

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Trend Radar is a column that allows you to track and evaluate specific movements in certain stocks or indices on a daily basis.

We expect this column of observation to help you more in-timely and accurately understand the market and to profit from the potential rally of the stock.

Disclaimer: Historical performance of stocks or indexes is not indicative of future trends. The content of this article is for informational purposes only. Investments are risky, opinions are not direct investment advice.

1. $SoFi Technologies Inc.(SOFI)$ Jumped 19.9% and hit 17-month high after Q2 results beat estimates

• $SoFi Technologies Inc.(SOFI)$ 's total net revenue rose 37% to $498 million, driven by strong growth in personal loan originations that allowed its net interest income (NII) to more than double to $291.1 million in Q223. The San Francisco-based lender‘s total deposits at the end of the Q223 reached $12.7 billion, up from $7.34 billion at the end of 2022.

• The student-loan business was the company’s most profitable through the end of 2019. Student-loan payments are expected to resume in the coming months, and could be a boon for $SoFi Technologies Inc.(SOFI)$.

• $SOFI shares have added about 148.37% since the beginning of the year versus the $S&P 500(.SPX)$ 's gain of 19.3%. The average price target is $8.41 with a high forecast of $16.00 and a low forecast of $3.00 from market watch.

2. $Palantir Technologies Inc.(PLTR)$ stock up 11% as company rides A.I. craze

• Data analytics company $Palantir Technologies Inc.(PLTR)$ is best known for its work with the U.S. government’s defense and intelligence agencies, offers a number of AI-powered services for organizations across public and private sectors. Wedbush covers $Palantir Technologies Inc.(PLTR)$ for the first time, rating it "outperform" with a target price of $25.

• $Palantir Technologies Inc.(PLTR)$ 's Q123 posted revenues of $525.19 million, surpassing the Consensus Estimate by 4.03%. This represents an earnings surprise of 25%. CEO Alex Karp said in the company’s Q1 earnings that demand for $Palantir Technologies Inc.(PLTR)$ ’s new artificial intelligence platform is “without precedent,” company is expected to play an important role in the artificial intelligence revolution in the next decade.

• $Palantir Technologies Inc.(PLTR)$ shares of the company closed up more than 206% year to date. The average price target of $Palantir Technologies Inc.(PLTR)$ from TIPRANK is $11.43 with a high forecast of $18.00 and a low forecast of $6.00. It is set to report second-quarter results on Aug. 7 after market close.

3. $Adobe(ADBE)$ gained positive ratings and share price jumped by 3.27%

• Keith Weiss, an analyst at Morgan Stanley, recently states that the technology giant $Adobe(ADBE)$ is expected to rise by another 25% in 2024, and raised Adobe's stock rating to "overweight". Weiss put the agency's price target on $Adobe(ADBE)$ at $660 for the next year or so, which is just one step away from its record high of $688.37 in 2021.

• In June, the California-based company lifted its full-year forecast of Full-year revenue and EPS. For the second quarter, Adobe expects earnings per share of $3.75 to $3.80 on an adjusted basis and $4.75 billion to $4.78 billion in revenue.

• $Adobe(ADBE)$ shares have surged about 57% this year and are now worth $240 billion. Analysts generally believe that generative artificial intelligence can bring near-term and long-term benefits to both Adobe's creative and experience businesses, which may be a strong catalyst for revenue growth in 2024.

4. Question for Tigers（All valid and top 10 most popular stocks will be rewarded by Tiger Coins)

• Will you take the time to consider the above 3 stocks to your Watch list? Why and What’s your target price?

• Any other stocks are shaping the same gaped upward pattern?

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