SoFi stock initiated with buy rating at StoneX on growth potential

StoneX has initiated coverage on SoFi Technologies Inc. (NASDAQ:SOFI) with a buy rating and a price target of $25, indicating confidence in the company's growth potential. The stock has experienced a 40% decline this year, currently trading at $15.22 near its 52-week low of $14.88. Despite this, SoFi's second-quarter adjusted net revenue grew by more than 40% year-over-year to $4.27 billion, showcasing strong financial performance.

The company has been profitable over the last year, with earnings per share of $0.47, and has expanded its member base, deposits, products, and profit during this period. StoneX attributes SoFi's lagging share price to the company's earnings not keeping pace with revenue growth in the first half of 2026, driven by heavy marketing investments. The firm believes SoFi's valuation will expand as it converts top-line growth into profit.

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