SoFi Stock Plummets, But StoneX Sees a Comeback on the Horizon

By Liz Napolitano, Michael Bloom | October 13, 2026

SoFi Technologies (SOFI) has experienced a significant downturn in 2026, with its stock value dropping by nearly half. However, StoneX Financial believes a recovery is imminent, initiating coverage with a 'buy' rating and a $25 price target, suggesting a potential 64% upside.

Analyst Mark Palmer of StoneX highlighted that despite a roughly 40% year-to-date stock price decline, SoFi's second-quarter 2026 adjusted net revenue saw a year-over-year increase of over 40%. Palmer noted that the market's reaction seems to disregard the company's substantial operational progress, including record growth in members, deposits, products, and profits during the second quarter of 2026.

The decline in SoFi's share price, down approximately 42% year-to-date, has been attributed to concerns regarding its significant investments in long-term growth strategies and its ability to cultivate a more robust client base. Nevertheless, StoneX anticipates SoFi will regain ground by effectively converting its top-line growth into profitability, especially after substantial capital allocation towards marketing initiatives.

Palmer also pointed to the potential benefits from an accelerating member flywheel and SoFi's position as having the "most advanced bank-issued stablecoin franchise in the U.S."

Wall Street sentiment on SoFi Technologies remains divided. According to LSEG data, out of 27 analysts covering the fintech firm, 12 recommend a 'buy' or 'strong buy,' an equal number hold a 'hold' rating, and three suggest a 'sell.'

This analysis comes amidst a broader market landscape where other financial news outlets are also covering significant analyst calls, including those for Nvidia, Apple, and AT&T. For instance, Piper Sandler is optimistic about Vans' rising popularity boosting its owner's stock, while Bernstein has downgraded AT&T due to its foray into wireless services via SpaceX.