The SoFi rebound has only just begun, says Piper Sandler
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SoFi Technologies is in the middle of a rebound that shows little signs of slowing, according to Piper Sandler. The investment firm initiated coverage of fintech company with an overweight rating. It put a $22 price target on shares, implying 20% upside from Friday's close. "SoFi offers investors exposure to two distinct growth drivers: (1) a large, growing [total addressable market] in lending and debt consolidation for a younger, creditworthy demographic, and (2) a powerful product flywheel accelerating adoption across new and existing members," analyst Patrick Moley said Monday in a note to clients. Shares of SoFi have rebounded 17% over the past three months, with the stock gaining a lot of steam after the fintech platform reported strong second-quarter earnings . However, shares are still down roughly 30% in 2026 as concerns over rising inflation and potential rate hikes swirl. SOFI YTD mountain Shares are down about 30% year to date. That year-to-date underperformance created "an attractive entry point for long term investors," per Moley. He added that SoFi could regain ground by capturing "significant refinance activity upside among high-earning, prime credit millennial customer cohort." That activity would include credit card and student loan refinancing, or "two products that align closely with the liability profile of [SoFi's] target borrowers," Moley wrote. Piper Sandler's call goes against consensus on Wall Street. Of the 24 analysts covering SoFi, 12 have a hold rating on the stock, while just eight have a buy or strong buy on it, LSEG data shows. The stock climbed more than 2% following Piper's call.