SoFi Technologies is experiencing a challenging year, with its share price down approximately 42% in 2026. However, StoneX Financial analyst Mark Palmer highlights that the company's second-quarter adjusted net revenue grew by over 40% year-over-year, suggesting that the stock's decline does not reflect its operational progress.
Palmer points out that SoFi has achieved record growth in member acquisition, deposits, product offerings, and profitability during the second quarter. Despite concerns regarding its investments in long-term growth strategies, StoneX believes that SoFi's ability to convert top-line growth into profit will drive recovery.
The firm also notes the potential benefits from an accelerating member flywheel and the development of a leading bank-issued stablecoin franchise in the U.S. Currently, the market sentiment is mixed, with 12 out of 27 analysts rating SoFi as a buy or strong buy, while an equal number recommend holding the stock, and three suggest selling