SoFi Technologies (SOFI: NASDAQ)

SoFi Technologies (SOFI) has shown impressive growth, with its member base expanding by over 40% year-over-year, reaching 8.8 million members as of Q2 2024. This surge demonstrates the company’s ability to retain and cross-sell to its users effectively, positioning SoFi for further growth as it strengthens existing relationships and continues to attract new customers.

A notable shift in SoFi’s product mix has occurred, with its ratio of financial services products to lending products increasing significantly from 2.7x in 2021 to 6.2x in 2024. This transition toward higher-margin offerings could enhance lifetime customer value and improve overall profitability in the coming quarters.

Additionally, SoFi’s consistent EPS outperformance—with 11 upward revisions in the past 90 days—points to strong financial management and the possibility of further positive earnings surprises. This trend could lead to increased investor confidence and a rise in the stock price.

We are bullish on SOFI above $9.00-$10.00, with an upside target of $15.00-$16.00.

Sweetgreen (SG: NYSE)

Sweetgreen (SG) has been actively expanding its operations, opening four new restaurants in Q2 2024, including a new location in New Hampshire. This expansion demonstrates the company’s strategic focus on entering untapped markets, which should contribute to revenue growth and increased market share as Sweetgreen continues to grow its footprint.

A significant development for Sweetgreen is the successful implementation of its Infinite Kitchen concept at Penn Plaza. This innovation is aimed at improving throughput and customer satisfaction by reducing order wait times to under 3 minutes. The positive reviews from customers and the enhanced efficiency suggest that scaling this model could bring about cost savings and boost profitability. As more locations adopt the Infinite Kitchen model, Sweetgreen could see higher margins and improved operational efficiency.

CEO Jonathan Neman emphasized the efficiency gains of this new system, which are likely to lead to increased customer satisfaction, higher repeat business, and, consequently, a potential rise in sales and stock performance.

We are bullish on SG above $33.00-$34.00, with an upside target of $62.00-$64.00.

Bitcoin (BTCUSD)

Bitcoin’s price action is looking increasingly bullish, with the cryptocurrency making higher highs since late August. This signals a significant shift in momentum, hinting at further upside potential in the coming weeks. The support in the $50,000-$55,000 zone held well in early September, followed by a higher low and a surge in momentum. If Bitcoin clears the $70,000-$72,000 resistance level, we could see an explosive rally.

Bitcoin often leads the market, and if this resistance breaks, a new altcoin season could follow. In this scenario, Bitcoin may rally as high as $100,000 to $120,000.