Shares of SoFi Technologies (SOFI) rose 4.52% on Monday, closing at a record high of $26.15 and surpassing its previous peak from early 2021. Year-to-date, SOFI stock has gained nearly 70%, reflecting investors’ positive response to the company’s strong business momentum.
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For context, SoFi Technologies provides digital financial services, from personal loans and mortgages to investment and banking products, targeting tech-savvy consumers.
What’s Driving the Surge in SOFI Stock?
SoFi’s gains on Monday weren’t part of a broader market rally, and there was no major news driving the move. The rise appears linked to growing retail trader interest. Trading in options was much higher than usual, with many more calls than puts, showing bullish sentiment.
SOFI stock has made a big comeback this year. It fell nearly 40% in early April but has climbed more than 175% since hitting a low on April 8. Part of this recovery is due to strong fundamentals, with better-than-expected earnings in the first two quarters of 2025. This has prompted analysts to raise both earnings estimates and price targets.
For instance, on July 29, SoFi reported strong Q2 results, with record adjusted net revenue of $858 million, up 44% from last year. Management also raised its 2025 revenue forecast to $3.375 billion, implying roughly 30% growth, up from the previous 24–27% estimate.
Other Factors Driving SOFI’s Rally
Supportive economic factors are also helping the surge in SOFI’s stock. Last month, President Trump signed the GOP budget bill, which is expected to reduce federal student lending, likely driving more borrowers to private lenders like SoFi.
At the same time, SoFi’s return to crypto trading, announced in June, along with plans to eventually issue stablecoins, gave the stock a boost.
Is SoFi Stock a Good Buy?
According to TipRanks’ consensus, SOFI stock has a Hold consensus rating based on six Buys, 10 Holds, and four Sells assigned in the last three months. At $20.53, the average SoFi stock price target implies a 22% downside from current levels.
