Radio personality Ben Bernie first said it back in the 1930s.
The term has been heard in the movie "They Shoot Horses, Don't They," and an "Happy Days" TV show while the band Chic used the phrase in the title of their 1977 disco hit.
Related: Veteran analyst who predicted Rocket Lab stock surge updates outlook
And TheStreet Pro's Stephen Guilfolye said the very same thing when he took a look at Rocket Lab USA's (RKLB) stock performance in a recent column.
"Yowza, yowza, yowza!" the veteran trader declared.
🔌Free Newsletter From TheStreet - TheStreet🔌
Rocket Lab USA has been flying high. Shares are up 101.5% year-to-day, and the stock has soared 172.4% from a year ago.
"This one's a beauty, isn't it?" asked Guilfoyle, who has been analyzing stocks professionally since the 1980s when he was a trader on the New York Stock Exchange.
"On September 19, I took our target price to $9.50, up from $7.50, with the stock trading at $7.13. On September 27, I canceled our $9.50 target price with the stock trading at $9.94," he said.
Trader cites expected revenue growth
"I did inform readers that, while not being able yet to determine a new target price, I was remaining long the vast majority of my position after making a token sale," he added. "Last week, Rocket Lab USA peaked at $11.19 and closed on Friday at $10.81."
Rocket Labs is scheduled to report third-quarter results on Nov. 12, and Wall Street is forecasting the company to report earnings per share of 0-10 cents, adjustable to a loss of 8 cents per share on revenue of $102.4 million.
Related: Veteran investor sets his sights on Palantir, SoFi and Rocket Lab
“Prints such as those would be good for year-over-year revenue growth of 51%," Guilfolye said. "Revenue growth of more than 100% is expected for the fourth (next) quarter."
Guilfoyle said that between Sept. 19 and Sept. 27, five-star rated analyst Philip Gibbs of KeyBanc had reiterated his “buy” rating on the stock while increasing his target price from $8 to $11
Since then, NASA has awarded Rocket Lab a contract to complete a study for retrieving rock samples from the Martian surface and bringing them to Earth for the first time.
“Retrieving samples from Mars is one of the most ambitious and scientifically important endeavors humanity has ever embarked upon,” Rocket Lab founder and CEO Peter Beck said in a statement. “We’ve developed an innovative mission concept to make it happen affordably and on an accelerated schedule.”
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.
More Tech Stocks:
- Analysts update Meta stock price target with Q3 earnings in focus
- Analyst updates Tesla stock price target ahead of key robotaxi event
- Analysts update outlook for Nvidia's Blackwell chips amid AI boom
“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."
Related: Veteran fund manager sees world of pain coming for stocks
