SoFi Shares Fall About 40%–42% in 2026 as StoneX Sets $25 Target

SoFi Technologies shares were down about 40%–42% in 2026 as of Oct. 13, as StoneX began coverage with a Buy rating and a $25 price target tied to the company’s revenue and member growth.

The target implied roughly 64% upside from SoFi’s Oct. 12 closing price. StoneX said SoFi’s valuation could recover if strong revenue and member growth translate into higher profit.

“A 40% price decline alone does not make a stock inexpensive,” StoneX analyst Mark Palmer said.

SoFi reported $1.205 billion in adjusted net revenue for the second quarter ended June 30, up 40% from a year earlier. GAAP net income reached $156.6 million, while adjusted net income was $160.4 million.

Members increased 35% year over year to 15.8 million, and products rose 42% to 24.4 million. Deposits grew by $5.3 billion during the quarter to $45.5 billion.

The company also reported $14.8 billion in loan originations and $357.8 million in adjusted EBITDA. It raised its 2026 adjusted net-revenue guidance to between $4.75 billion and $4.85 billion.

“2026 is shaping up to be a defining year,” SoFi CEO Anthony Noto said in the company’s second-quarter earnings release.

SoFi combines lending, financial-services products and technology-platform services. Lending and financial services led second-quarter growth, while technology-platform accounts declined 16% year over year to 134.8 million.

StoneX also cited SoFi’s marketing spending, member-growth flywheel and bank-issued stablecoin business. SoFi’s stablecoin settlement efforts include the ongoing transition of its card program to SoFiUSD.