SoFi Technologies (NASDAQ: SOFI) has easily become one of the most exciting stories in the financial services industry. The digital-only banking platform continues to report excellent numbers.

As of April 27, though, shares trade 42% below their record. This high-water mark was established in November last year. Maybe there's an opportunity here to put money to work.

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At its beaten-down price, this fintech stock looks oversold. Is now the time for investors to buy SoFi?

Growth is strong even in uncertain economic times

Investors will easily come away impressed with SoFi's fundamental performance. There's so much uncertainty as it pertains to the macro picture. However, this business keeps chugging along.

In 2025, SoFi reported a 38% year-over-year increase in adjusted revenue to $3.6 billion. It added 3.6 million net new customers during the 12-month period, up 35%. These are generally younger, higher-income consumers, which bodes well for the business since they have significant lifetime value.

SoFi's ability to keep up the strong pace of growth at a time of elevated economic uncertainty is impressive.

The market has reasons to worry

Although SoFi's shares have climbed 18% since the start of April, they are down significantly from mid-November. The investment community is certainly worried.

Muddy Waters, a hedge fund known for its highly publicized research materials calling out what it believes is bad behavior at specific companies, issued a short report on March 17 that called into question SoFi's equity dilution, recorded debt, and personal loan charge-off rate .

However, the management team immediately denied the claims. While a small amount in the grand scheme of things, CEO Anthony Noto purchased $500,000 worth of shares after the short report was revealed. And SoFi plans to take legal action against Muddy Waters. This should be encouraging for shareholders, even though it's impossible to assess the accuracy of the accusations as a passive investor.

The stock started falling months before the short report. Adding to the previous point, maybe the market is concerned about the impact a possible recession would have. Banks are heavily exposed, given their lending activity.

SoFi's Q4 2025 net charge-off rates for personal and student loans were healthy compared to recent years. "Our credit remains strong, performing in line with expectations and driving attractive returns across all loan types," CFO Chris Lapointe said on the fourth-quarter earnings call.