Key Highlights
- SOFI shares gained 4.9% Thursday, reaching $17.08, followed by a 7% jump Friday morning
- The company introduced SoFiUSD, marking the first stablecoin from a U.S. national bank available on a consumer banking app
- Nearly 15 million SoFi members can now access SoFiUSD on Ethereum and Solana blockchains
- CEO Anthony Noto purchased 15,545 shares at $16.00 on May 11; an executive vice president sold shares during the same period
- Wall Street maintains a “Hold” rating with a consensus price target of $22.56
SoFi Technologies has experienced impressive momentum over the past two trading sessions. Shares climbed 4.9% Thursday, closing at $16.97, before jumping an additional 7% in Friday’s early trading, approaching the $18 mark. The driving force behind this rally: the introduction of SoFiUSD, a stablecoin backed by a U.S. national bank.
According to SoFi, SoFiUSD represents a milestone as the inaugural stablecoin issued by a federally chartered U.S. bank and integrated directly into a consumer banking application. The digital currency is now accessible to the company’s user base of nearly 15 million members through the SoFi mobile platform.
Users can purchase, sell, store, and exchange SoFiUSD seamlessly within the app ecosystem. Each token is backed 1:1 by U.S. dollars, with SoFi Bank maintaining liquid reserves equivalent to all circulating tokens.
The stablecoin operates on both Ethereum and Solana blockchain networks, with additional network integrations on the horizon. The framework includes independent CPA verification reports, ensuring bank-level regulatory compliance and transparency.
CEO Anthony Noto positioned the launch as bridging two worlds: “People no longer have to choose between blockchain technology and regulated banking products.”
SoFi’s ambitions extend beyond the initial launch. Future plans include enabling members to convert SoFiUSD into interest-bearing tokenized deposits with FDIC protection. The company also intends to facilitate international cross-border payments and list SoFiUSD on the Bullish centralized exchange for institutional trading.
Complete rollout is anticipated by early June, contingent upon users downloading the latest app version.
Mixed Signals From Company Insiders
Insider trading activity presents a contrasting narrative. CEO Noto acquired 15,545 SOFI shares at $16.00 each on May 11, representing approximately $248,720 in total investment. His current holdings exceed 11.9 million shares, valued at roughly $191 million.
Conversely, EVP Kelli Keough divested 10,037 shares at $15.53 on May 20 through a predetermined 10b5-1 trading arrangement, totaling $155,874. This transaction reduced her holdings by approximately 3%.
Collectively, company insiders have sold approximately $2.16 million in stock during the previous quarter.
Institutional activity remains robust. Norges Bank established a new $321.5 million position during Q4. Morgan Stanley expanded its stake by 33.6%, while Marshall Wace increased its holdings by nearly 373%.
Wall Street Reduces Price Expectations
Despite the positive momentum from the stablecoin launch, analyst firms have been moderating their price targets. Keefe, Bruyette & Woods reduced its target from $20 to $17 in April, maintaining an “underperform” rating. Barclays cut its target from $28 to $18 with an “equal weight” stance. UBS lowered expectations from $24.50 to $21, remaining neutral. Wells Fargo adjusted downward from $19 to $18.
The overall analyst consensus among 21 firms remains at “Hold,” with an average price objective of $22.56.
Regarding financial performance, SoFi reported Q1 2026 earnings of $0.12 per share, meeting analyst expectations. Revenue reached $1.09 billion, surpassing the consensus estimate of $1.05 billion and representing a 42.6% year-over-year increase.
Management provided full-year 2026 guidance of $0.60 EPS. The analyst community is projecting $0.59 for the same period.
Complete SoFiUSD functionality is scheduled for early June as members upgrade to the most recent app version.
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