Jim Cramer: SoFi Goes To 'New Highs,' Recommends Not Buying This Health Care Stock
On CNBC's “Mad Money Lightning Round,” Jim Cramer said he likes SoFi Technologies, Inc. (NASDAQ:SOFI), adding that the stock goes to “new highs.”
To support his view, the company reported quarterly adjusted sales of $770.72 million on April 29, beating analyst estimates of $739.04 million. The company also reported quarterly adjusted earnings of 6 cents per share, beating analyst estimates of 4 cents per share.
Cramer said Roku, Inc. (NASDAQ:ROKU) has “some upside because they are doing some pretty terrific things in streaming, so I'm ok with it.”
On the earnings front, Roku posted better-than-expected results for the first quarter on May 1.
Cramer recommended not buying GE HealthCare Technologies Inc. (NASDAQ:GEHC). “It's inconsistent and too controlled by China, not America. So, I am not going to be a backer,” he added.
As per the recent news, GE HealthCare announced FDA approval for Optison Ultrasound Enhancing Agent.
“The beer business is soft, the spirits business is not so good, and, frankly, I expected more from the company. I think the company has been a very big disappointment,” Cramer said when asked about Constellation Brands, Inc. (NYSE:STZ). “I don't need to be in stocks that have been disappointing.”
Supporting his view, RBC Capital analyst Nik Modi lowered the price target on the stock from $289 to $233 on April 14.
Price Action:
- SoFi shares gained 1.8% to settle at $14.29 on Tuesday.
- Roku shares rose 3.8% to close at $71.40 during the session.
- GE Healthcare shares fell 0.4% to settle at $73.83 on Tuesday.
- Constellation Brands shares declined 1.2% to settle at $187.67 on Tuesday.
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