SoFi Technologies (SOFI) Climbs 6.7% Ahead of Key Economic Data

We recently published 10 Hot Stocks Sparking Buying Frenzy. SoFi Technologies Inc. (NASDAQ:SOFI) is one of the best performers on Tuesday.

SoFi Technologies grew its share prices for a second day on Tuesday, jumping 6.75 percent to close at $28.14 apiece as investors took early positions in lenders that would benefit from an expected interest rate cut.

The US central bank is set to convene for the next Federal Open Market Committee meeting in the end of the month, and investors are already betting big on another rate cut following key inflation data that solidified expectations.

SoFi Technologies Inc. (NASDAQ:SOFI), an online lending platform, stands to benefit from a rate cut move, with lower rates typically bolstering borrowing volumes.

In other developments, SoFi Technologies Inc. (NASDAQ:SOFI) is set to release the results of its third quarter earnings performance in the end of the month, based on its historical earnings reporting dates.

For the full-year 2025, SoFi Technologies Inc. (NASDAQ:SOFI) is targeting to deliver $370 million in net income and $3.375 billion in revenues, which would represent a 30 percent growth year-on-year.

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Disclosure: None. This article is originally published at Insider Monkey.