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SoFi Stock Plummets Despite Analyst Buy Ratings
14 Oct
Summary
- StoneX initiated coverage with a Buy rating and $25 target.
- Keefe, Bruyette & Woods maintained an Underperform rating.
- SoFi stock is trading near its 52-week low of $14.88.
SoFi Technologies' shares are facing downward pressure, despite a recent initiation of coverage by StoneX with a Buy rating and a $25 price target. StoneX analyst Mark Palmer argues that the stock's significant year-to-date decline of approximately 40% is unwarranted, especially considering the company's record-breaking second quarter of 2026. This period saw over 40% adjusted net revenue growth year-over-year and achieved best-ever figures for new members, deposits, products, and profit.
Conversely, Keefe, Bruyette & Woods analyst Timothy Switzer reiterated an Underperform rating on October 14, 2026, lowering the price target from $16 to $15. Switzer expressed caution ahead of SoFi's upcoming third-quarter report, citing concerns related to fair value accounting and interest rate spikes. The analyst estimates that rising rates and balance sheet growth could cost SoFi over $1 billion in the third quarter, potentially thinning its capital cushion.
Analyst sentiment on SoFi remains divided. While StoneX is optimistic, other firms show mixed signals. TD Cowen maintained a Hold rating, trimming the price target to $17.50 on October 6, 2026. Scotiabank initiated coverage with a Sector Outperform rating and a $17.50 price target on September 2, 2026. Currently, the consensus among fourteen analysts is a Buy rating with an average price target of $21.82. SoFi shares were trading down 0.26% at $15.20 on October 14, 2026, near their 52-week low.
