📊🏦 Barclays lifts SoFi target to $28 — but keeps an Equal-Weight stance

Barclays has raised its price target on SoFi Technologies ($SOFI) to $28, while maintaining an Equal-Weight rating.

That combination matters.

Raising the target while holding a neutral rating signals a recalibration of valuation assumptions, not a full conviction shift. In other words, Barclays is acknowledging improving fundamentals, but remains cautious on how much upside is already priced in.

The upgrade in target reflects several dynamics that are becoming harder for the Street to ignore:

First, SoFi’s earnings quality is improving.

Revenue growth is increasingly supported by diversified segments — lending, financial services, and the Galileo + Technisys technology stack — rather than a single macro-sensitive driver.

Second, operating leverage is starting to show.

As member growth compounds and product cross-sell deepens, incremental revenue is translating more efficiently into profitability, reshaping longer-term margin expectations.

Third, the platform narrative is gaining traction.

SoFi is no longer being modeled purely as a digital lender. Analysts are gradually being forced to treat it as a vertically integrated fintech platform, with banking, technology infrastructure, and consumer distribution under one roof.

So why keep Equal-Weight?

That caution likely reflects:

valuation sensitivity after a strong run,

exposure to credit cycles,

and uncertainty around how aggressively SoFi reinvests versus harvests profitability as scale increases.

In short, Barclays is saying:

the business is stronger,

the long-term model looks better,

but the stock now requires continued execution to justify further multiple expansion.

The real question for investors isn’t the $28 target.

It’s this:

As SoFi continues to transition from growth-at-all-costs to scaled, profitable fintech infrastructure, does the market ultimately price it as a cyclical lender — or as a durable platform?

That distinction will matter far more than any single target revision.

📩 Ongoing analysis on fintech platforms, earnings inflections, and how Wall Street reprices companies as business models mature.

#SOFI #SoFi #Fintech #Barclays #PriceTarget #USStocks #DigitalBanking