Is SoFi Stock a Buy in October 2026?

SoFi’s stock is trading at about $15 after a reported record close of $32.21 on Nov. 12, 2025, following a 133% gain over the prior 12 months. At the end of Q2 2026, members grew 35% year over year to 15.8 million and products in use rose 42% to 24.4 million; SoFi expects full-year adjusted revenue growth of 32%-35% and an adjusted EBITDA margin of 33%-34%. The article argues the shares may be undervalued at 11 times this year’s adjusted EBITDA, while warning that higher rates could constrain lending and raise credit-default risks.

Analysis

The bullish case is less about member growth itself than whether SoFi can turn expanding usage into durable, risk-adjusted revenue per customer. More products per member can lift cross-sell economics, but headline member and Galileo account growth is not proof of monetization; track fee revenue and contribution from the technology platform separately from lending. A key valuation caveat: EV/adjusted EBITDA is a weak anchor for a bank-led business because deposits and credit costs complicate comparability. Prefer evidence from net interest margin, deposit costs, delinquencies/charge-offs, tangible book value and returns on equity before concluding the shares are cheap.

Rates cut both ways. Higher yields may help asset income, but deposit repricing, weaker loan demand and borrower stress can erase that benefit—especially if growth is being bought with looser underwriting. Over the next 1–3 months, guidance on deposit pricing and credit performance matters more than customer counts; over 6–18 months, sustained cross-sell and non-lending revenue would support a fintech-like multiple. The contrarian risk is that investors may be treating a cyclical lending business as a platform, while the opposite risk is that a bank multiple misses the value of a genuinely monetizing technology and fee franchise. The article’s dates and quoted price do not establish a current entry point; verify the latest filing and market data before acting.

Key Decisions for Investors

• Do not anchor on the cited EV/adjusted EBITDA multiple. Re-underwrite SOFI using deposit costs, net interest margin, credit losses, fee revenue, tangible book value and returns on equity; compare lending and Galileo economics separately.
• If current valuation and filings confirm the thesis, consider a staged, modest long rather than buying the full position at once. Add only if quarterly data show continued cross-sell/fee monetization without deterioration in delinquencies, charge-offs or deposit retention.
• Near-term watch: a worsening credit trend, deposit-cost pressure, or weaker loan growth would falsify the claim that higher rates are a net benefit and argue against adding. Stronger fee revenue and stable credit through the next reporting cycle would improve the risk/reward.
• Verify the article’s chronology and the live share price before setting an entry: its referenced peak, current price and reporting periods may not align with today’s market data. No price target or options trade is justified from the information provided.