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Why Sofi and Paysafe Stock Went Up Last Week -- Can It Continue?

By Jose Najarro – Aug 10, 2021 at 10:00AM

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Upcoming earnings and recent acquisitions have investors bullish about these two fintech companies.

In today's video I look at recent news and share some metrics that SoFi (SOFI -4.64%) and Paysafe (PSFE -2.80%) investors should watch for during the upcoming earnings. Here are some highlights from the video. 

  1. Sofi is scheduled to release its second-quarter 2021 earnings after the market closes on Thursday, Aug. 12. Paysafe is scheduled to release its second-quarter 2021 earnings before the market opens on Monday, Aug. 16. 
  2. On Aug. 2, Paysafe entered a definitive agreement to acquire PagoEfectivo, an alternative payments platform focused on Latin America. The acquisition will accelerate Paysafe expansion into Latin America, bringing more opportunities to its eCash business. The deal is expected to close at the end of August, and no financial terms have currently been disclosed. 
  3. Sofi and Paysafe stock prices have been trending upward since Square (SQ -2.91%) announced its acquisition of Afterpay (AFTP.F). The acquisition may have some investors hopeful that one of these fintech companies could be a potential target for future purchases. 

Click the video below for my full thoughts and analysis. 

*Stock prices used were the midday prices of Aug. 6, 2021. The video was published on Aug. 6, 2021.

Jose Najarro owns shares of Square. The Motley Fool owns shares of and recommends AFTERPAY T FPO, SoFi Technologies, Inc., and Square. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Stocks Mentioned

Paysafe Limited Stock Quote
Paysafe Limited
$1.39 (-2.80%) $0.04
SoFi Technologies Stock Quote
SoFi Technologies
$4.32 (-4.64%) $0.21
Block Stock Quote
$61.30 (-2.91%) $-1.84
Afterpay Limited Stock Quote
Afterpay Limited

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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