TLDR
- SoFi stock rose 4.9% Thursday, hitting $17.08, then surged another 7% Friday morning
- SoFi launched SoFiUSD, the first stablecoin issued by a U.S. national bank on a banking platform
- SoFiUSD is available to nearly 15 million members on Ethereum and Solana networks
- CEO Anthony Noto bought 15,545 SOFI at $16.00 on May 11; an EVP sold stock the same week
- Analyst consensus remains “Hold” with an average price target of $22.56
SoFi Technologies stock has had a strong two days. The stock climbed 4.9% on Thursday to close at $16.97, then added another 7% Friday morning, pushing it toward $18. The catalyst: the launch of SoFiUSD, a bank-issued U.S. dollar stablecoin.
SoFi says SoFiUSD is the first stablecoin issued by a U.S. national bank to launch on a banking app. It’s now available to the company’s nearly 15 million members directly inside the SoFi app.
Members can buy, sell, hold, and convert SoFiUSD within the platform. The stablecoin is redeemable 1:1 for U.S. dollars from SoFi Bank, which holds liquid assets to back all outstanding tokens.
SoFiUSD runs on Ethereum and Solana, with more networks planned. Independent CPA attestations are part of the structure, giving it bank-grade oversight.
CEO Anthony Noto framed the launch as a convergence play: “People no longer have to choose between blockchain technology and regulated banking products.”
The roadmap goes further. SoFi plans to let members convert SoFiUSD into tokenized deposits to earn interest and access FDIC insurance. Global cross-border transfers and a listing on centralized exchange Bullish for institutional clients are also planned.
Full availability is expected by early June, pending app updates.
Insider Activity Is Mixed
On the insider front, the picture is split. CEO Noto bought 15,545 SOFI at $16.00 per share on May 11, spending roughly $248,720. He now holds over 11.9 million SOFI worth approximately $191 million.
On the other side, EVP Kelli Keough sold 10,037 SOFI at $15.53 on May 20 under a pre-arranged 10b5-1 plan — a total of $155,874. That was a 3% trim of her position.
Insiders as a group sold a combined $2.16 million worth of stock over the past quarter.
Institutional investors are active too. Norges Bank entered a new position worth $321.5 million in Q4. Morgan Stanley added 33.6% to its stake, and Marshall Wace grew its position by nearly 373%.
Analyst Targets Have Been Coming Down
Despite the buzz, Wall Street has been cutting targets. Keefe, Bruyette & Woods lowered its target from $20 to $17 in April and rates the stock “underperform.” Barclays dropped from $28 to $18 with an “equal weight” rating. UBS cut from $24.50 to $21, also neutral. Wells Fargo trimmed from $19 to $18.
The consensus across 21 analysts sits at “Hold,” with an average target of $22.56.
On the fundamentals side, SoFi’s Q1 2026 earnings came in at $0.12 EPS, matching estimates. Revenue hit $1.09 billion, beating the $1.05 billion consensus and up 42.6% year-over-year.
The company guided for $0.60 EPS in full-year 2026. Analysts are forecasting $0.59.
Full SoFiUSD availability is expected in early June as users update to the latest version of the app.
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