Sticking With This SoFi Price Target After Major Insider Buying, Mastercard Partnership
The upstart financial services firm has made headlines for a pair of positive announcements.
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I have been adding to my Sarge-folio long positions as the shares have come in. Readers know that. I have been quite open about my one trades in the stock.
I was also quite public about making SoFi Technologies (SOFI) my top stock pick for 2026. As my annual pick has become widely followed across both the realm of retail traders as well as throughout the financial services industry due to what has been a strong track record, there is some pressure to select a successful name.
The ballgame is a long way from over, but picking a stock that is down 29.8% year to date two months into the season has put me in an awkward position. What I can do, in this situation, is keep the folks who followed me into the stock up on what is going on with the company from a news, a fundamental and a technical perspective. I can also keep the folks up on what moves I make.
Sure, you're still up three digits percentage-wise if you've been in this one with me for a couple of years or more (and still up 23% over 12 months). That said, if you're in this stock since I picked it in late December, 2025 then you're in the hole and, even if I am not responsible as I am not managing your money, I do feel responsibility toward you. Hence, I will not hide. I will continue throughout 2026, God willing, to keep readers informed.
Been Waiting
One of the best things about being invested in SoFi Technologies all along has been the fact that CEO Anthony Noto had been buying shares for his own account alongside us the whole time.
As investors, we like when a chief executive has the guts to bet on himself and invest in the company he or she has been charged with leading. It had been a while since I saw one of these. I had almost become concerned.
On Monday, SOFI filed a Form 4 with the SEC. Noto had purchased 56,000 shares of stock in the firm during the day at an average price of $17.8842. The shares were purchased over a price range spanning from $17.50 to $18.205. That's a little more than $1 million spent, for those keeping score. This also brings Noto's holdings up to 11,675,452 shares. These were shares purchased on the open market. Not some product of a derivatives or options-related trade where the shares are discounted.
I purchased shares twice last week, increasing the size of my position. It's nice to know that I am in company with the individual running the show. I believe Noto is a man of honor and a steadfast leader for this firm. If he were not still investing in the stock, I would start to wonder if I should be. This is a shot in the arm as far as I am concerned.
News
On Tuesday morning, SoFi Technologies announced a partnership with Mastercard (MA) to enable settlement of SOFI's U.S. dollar stablecoin across Mastercard's networks. SoFi-USD is the fully reserved stablecoin making news, and the first to be offered by a U.S. nationally chartered and insured deposit bank on a public, permissionless blockchain.
This stablecoin is expected to be supported across Mastercard's multi-token network connecting traditional fiat currency with digital "currency." The SoFi Bank unit of SOFI is also expected to settle its credit and debit card transactions powered by Mastercard's network in SoFi-USD. SOFI's Galileo platform is expected to potentially be the first to offer clientele the choice of settling transactions in dollars or stablecoins.
The Chart
As mentioned here a couple of weeks ago, the 50% retracement level (or "halfway back" point) of that August 2024 through November 2025 rally had provided support for the share price. I told readers then that either that door would open after so many knocks, or the stock ends up rallying sharply. The door opened, not surprisingly.
At that time, I wrote that I then saw potential for downside risk to the 61.8% retracement level, which is just above $16. I wrote then that my conviction had not wavered. It still has not. I will be adding down to that level. The upside pivot remains the 200-day SMA, now at $23. I am reiterating my $29 target price for the stock.
At the time of publication, Guilfoyle was long SOFI equity.
