SoFi Stock: What Analysts Think of the Big Business Banking Launch

TLDR

• SoFi launched “SoFi Big Business Banking,” a 24/7 platform for enterprise clients handling both fiat and stablecoins including its own SoFiUSD.
• Partners include Mastercard, Galaxy Digital, and Bullish, which KBW analysts called an impressive lineup.
• CEO Anthony Noto positioned the move against legacy banks stuck in a “9 to 5” operating model.
• KBW reiterated an Underperform rating with a $20 price target despite the stock sitting at $15.85.
• SOFI stock is down roughly 40% in 2026, still dealing with fallout from a Muddy Waters short-seller report.

SoFi Technologies (SOFI) closed at $15.85 on Thursday, up 1.4% on the day.

SoFi Technologies, Inc., SOFI

SoFi Technologies launched a new enterprise banking platform on Thursday called “SoFi Big Business Banking.” The platform is designed for large corporate clients and runs 24 hours a day, seven days a week.

The service lets businesses hold and transfer funds, manage deposits, and settle transactions through SoFi’s nationally chartered bank. It supports both traditional cash and stablecoins, including the company’s own SoFiUSD — a dollar-pegged digital currency.

CEO Anthony Noto framed the launch as a direct challenge to legacy banks. He argued that the global economy doesn’t stop at 5 PM, and that businesses need a banking partner that operates in an “always-on environment.”

The list of launch partners caught the attention of Wall Street. Mastercard, Galaxy Digital, and Bullish have all signed on to support the institutional rollout of SoFiUSD and build services on top of SoFi’s infrastructure.

KBW analyst Tim Switzer said in a note that while the launch had been telegraphed for months, the firm was still “impressed” by the crypto partner lineup. Switzer wrote that SoFi is “in a unique position to connect infrastructure across traditional finance and digital assets as one of the first movers into the space among federally regulated banks.”

SoFi’s subsidiary Galileo adds further reach, with around 128 million accounts already on its platform. That distribution, combined with the new banking service, could “allow SOFI to punch above its weight class” in the stablecoin space, Switzer said.

Stiff Competition Ahead

Switzer was careful not to get too carried away. He noted there “will certainly be many competitors in this area,” with large banks and established stablecoin providers still holding the front-runner position. Whether the new service translates into something useful for SoFi’s core consumer base is still an open question.

Despite the cautiously positive tone, KBW kept its Underperform rating on the stock, with a $20 price target. The bank first downgraded SOFI to Underperform in early 2025, when the stock was trading just under $15. The rating held even as the stock climbed above $30 late last year.

SOFI has since given back all of those gains. The stock is now down approximately 39-40% in 2026 alone.

Muddy Waters Overhang Remains

Part of that pressure came from a short-seller report by Muddy Waters Research, which alleged accounting issues at the company. SoFi has publicly called those claims “factually inaccurate and misleading,” but the stock has yet to fully recover.

Thursday’s launch didn’t spark a big rally. SOFI spent much of the morning in the red before turning positive later in the day, with the 1.4% gain likely not directly tied to the morning announcement.

Across 16 Wall Street analysts tracked by TipRanks, SOFI holds a consensus Hold rating — five Buys, eight Holds, and three Sells. The average 12-month price target sits at $24.96, implying roughly 57.5% upside from current levels.

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