SoFi Tech stock jumps 7% as it relaunches crypto investing and doubles down on blockchain

SoFi Technologies Inc. stock surged over 7% as the financial services firm unveiled a significant foray into crypto investment and blockchain technologies, marking a bold move in its digital financial offerings, as per a report.

SoFi Hits 52-Week High Amid Investor Excitement

According to an Investing.com report, the stock hit a new 52-week high as it reached $18.43 on Monday. As per the InvestingPro analysis, SoFi stock might be overvalued at current levels, with a market capitalisation of $19.7 billion and gross profit margin of 82%. In the past year, the stock has jumped 167.19%, which shows strong investor confidence and positive market momentum, reported Investing.com.

ALSO READ: Zohran Mamdani dodges condemning ‘Globalize the Intifada,’ says mayors shouldn’t police speech

SoFi's Crypto Relaunch and Blockchain Push

As per an Insider Monkey report, hedge funds have reported that SoFi is among one of the best AI stocks to buy. This comes after SoFi revealed on June 26 that it plans to reintroduce its crypto investing feature, enabling members to buy, sell, and hold widely used cryptocurrencies such as Bitcoin and Ethereum later this year, as reported by Insider Monkey.

SoFi also announced plans to broaden offerings to include stablecoins, lending collateralised by cryptocurrency, and staking capabilities, seeking to establish itself as a new-generation, technology-driven financial services company, according to the report.

In addition to this, SoFi will also soon allow eligible SoFi Money members to send cross-border money transfers via a completely automated self-service option in the app, to dozens of countries, according to the Insider Monkey report. These new features aim to simplify managing money and make it more convenient for users, as the transfers will be fully automated within the SoFi app, as reported by Insider Monkey.

ALSO READ: Rubio’s State Department in turmoil: Staff overworked, morale plummets amid layoff fears

Strong Financials Back SoFi’s Market Confidence

The company also posted a strong financial result for the first quarter of 2025, with earnings per share of $0.06, which exceeded the forecasted $0.04, according to Investing.com. SoFi’s revenue reached $771.76 million, surpassing expectations by about 4.25%, as per the report. The fintech firm also raised its full-year guidance, reflecting confidence in future growth, according to Investing.com.

Cautious Optimism From Wall Street

However, even after SoFi's positive earnings report, BofA Securities has maintained an "underperform" rating for the company, with a $13 price target, as per the Investing.com report. Even analyst Mihir Bhatia acknowledged the firm’s strong quarter but expressed caution due to macroeconomic uncertainties, according to the report.

ALSO READ: Jerome Powell accused of lying to Congress over $2.5B lavish Fed HQ renovation — calls for punishment grow

FAQs

Why did SoFi’s stock jump over 7% this week?
SoFi’s stock rose sharply after it announced a relaunch of crypto investing and new blockchain services—news that excited investors and pushed the stock to a 52-week high.

How has SoFi performed financially?
In Q1 2025, SoFi beat expectations with $0.06 EPS (versus $0.04 forecasted) and reported $771.76 million in revenue. It also raised its full-year guidance.