SoFi Technologies Inc. (NASDAQ:SOFI) has spent most of 2026 heading lower. StoneX Financial believes the selling has gone too far.
The firm launched coverage of SoFi with a Buy rating and a $25 price target, CNBC reported. The target implies roughly 64% upside from Monday’s close of $15.23.
Shares have lost nearly 42% year to date and trade more than 50% below their 52-week high of $32.73, according to Benzinga Pro market data.
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Business Vs. Share Price
Analyst Mark Palmer built the call around a widening gap between SoFi’s results and its stock.
“SOFI’s share price is down ~40% this year while its 2Q26 adjusted net revenue grew by more than 40% [year over year],” Palmer said in a Monday note to clients, per CNBC.
“A 40% price decline alone does not make a stock inexpensive, but such a drop paired with record operating progress and an underappreciated new business line does, in our view.”
He argued the market is pricing in a slowdown that hasn’t shown up. “SOFI during 2Q26 added more members, more deposits, more products and more profit than in any prior quarter, but the market has marked the stock down as if all four were in retreat,” Palmer wrote.
StoneX expects SoFi to turn top-line gains into profit after heavy marketing outlays. Palmer also cited an accelerating member flywheel and “the most advanced bank-issued stablecoin franchise in the U.S.”
Record Quarter, Cautious Guide
The second quarter supports much of the bull case. Adjusted revenue climbed 40% to a record $1.2 billion, topping estimates of $1.12 billion, Reuters reported. Membership rose 35% to 15.8 million, and loan originations hit a record $14.8 billion.
Investors sold anyway. SoFi raised its full-year revenue outlook to $4.75 billion to $4.85 billion but held its adjusted profit forecast at 60 cents a share. The stock fell 9% in early trading after the July report.
CEO Anthony Noto told CNBC the company left earnings guidance alone because of potential Federal Reserve rate hikes.
“I just think higher rates create some uncertainty generally,” Noto said, adding, “we just wanted to leave some cushion.”
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The Stablecoin Angle
SoFi’s newest business line is the piece Palmer considers underappreciated. The company opened its dollar-pegged SoFiUSD token to nearly 15 million app users this year, The Wall Street Journal reported. It was the first national bank to offer a stablecoin on a public blockchain.
Wall Street Split
Wall Street leans bullish, but not by much. Of the 22 analysts tracked by Benzinga, nine rate SoFi a Buy or Strong Buy and nine have a Hold. Four rate it a Sell. The consensus rating is a Buy, and the average price target of $19 implies about 24.8% upside.
Piper Sandler turned bullish in August with an overweight rating and a $22 target.
SOFI Stock Price Activity: SoFi Technologies shares are trading higher by 0.23% at $15.27 at the time of publication on Tuesday, according to Benzinga Pro data.
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