The best time to buy a stock may be when it is experiencing a temporary pullback from which it will likely bounce back, rather than during a strong bull run with little — if any — additional upside. Thankfully, even as broader equities continue to perform well, there are plenty of companies in the first category that might be worth investors’ attention. Let’s consider three examples: SoFi Technologies (NASDAQ: SOFI), Robinhood Markets (NASDAQ: HOOD), and TransMedics Group (NASDAQ: TMDX). Here is why these three stocks are worth investing in after lagging the market this year.
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1. SoFi Technologies
Shares of SoFi Technologies have declined 34% this year. The company was hit by a short-seller report that sent its stock price sinking, although it has categorically denied the allegations made against it. Elsewhere, SoFi’s first-quarter update was disappointing, as the market was not satisfied with the company’s guidance. Even so, SoFi’s actual financial results were strong. The company’s total revenue jumped 43% year over year to $1.1 billion, a record quarterly net revenue for the fintech specialist. Also, SoFi’s adjusted earnings per share (EPS) doubled to $0.12.
Further, the company’s members reached a record 14.7 million, up 35% from the year-ago period.
SoFi is performing well, and although there may be some headwinds in the near-term — especially if economic conditions worsen — there are solid reasons to be bullish about its long-term outlook. The company’s entirely online business model and growing product portfolio are particularly attractive to younger people. That’s partly why key metrics continue trending up, and the company is arguably developing a competitive advantage from switching…
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