On Oct. 16, Rocket Lab USA announced its “Changes In Latitudes, Changes In Attitudes” mission, a last-minute of its Electron launch for a commercial customer set to blast off in three days’ time."

Guilfoyle also reviewed fintech SoFi Technologies  (SOFI) , which is slated to post third-quarter results on Oct. 29. The company's shares are up 5.6% since the start of 2024 and the stock has climbed 42.6% from a year ago.

SoFi unveils $2 billion deal

"Wall Street is looking for a GAAP EPS of $0.04 on revenue of $632 million." he said. "If those numbers prove to be exact, this will be the firm's fourth consecutive quarter of profitability while also reflecting revenue growth of 19%."

Related: SoFi makes a big move its customers may applaud

On Oct. 14, SoFi Technologies announced a $2 billion deal with Fortress Capital to grow its personal loans business.

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“SoFi’s loan platform business is an important part of our strategy to serve the financial needs of more members and diversify toward less capital-intensive and more fee-based sources of revenue,” CEO Anthony Noto said in a statement.

“We’re pleased to see continued strong demand for SoFi’s loan platform business. Fortress’ collaboration, seamless execution, and appreciation of the platform's value proposition makes them an exceptional partner.”

Guilfolye has a price target of $13.25 on SoFi, which is up from $10.25.

He said that of the ten sell-side analysts he knows following this stock, “all ten have increased their Q3 earnings estimates for this name since the third quarter started.”

Last week, Citi analyst Andrew Schmidt raised the firm's price target on SoFi Technologies to $12.50 from $11 and kept a buy rating on the shares, according to The Fly.

Schmidt said that conditions for continuation of positive sector performance remain in place for the FinTech group heading into the third-quarter reports.

Guilfoyle said that he believes a relatively benign macro environment thus far, steady-to-lower rates, more even fund flows, improving sentiment regarding larger-cap multiple ceilings and transitions, and further profitability ramps can better support stock valuations.

"My current expectation is for SoFi to enter into a basing period of consolidation with a pivot point of that $10.49 high made last week," he said. "Call it $10.50 if you like. That, of course, will take our target price substantially higher as well."

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