NEW YORK, June 11, 2026, 12:05 (EDT)
- SoFi Technologies was near $15.95 in late morning trading Thursday, up about 8 cents after earlier reaching $16.32.
- SOFI last closed at $15.87 on Wednesday after falling 3.6%. Volume was higher than usual.
- The stock bounced as the broader market turned up. Both the technology-heavy QQQ and S&P 500 ETF SPY moved higher Thursday.
SoFi Technologies, Inc. (NASDAQ: SOFI) pushed up on Thursday, with the fintech name attempting to find a floor near $16 following a big drop in the last session. Shares changed hands at $15.95, up 8 cents on the day. More than 22 million shares had traded so far. The intraday range ran from $15.67 to $16.32.
SoFi shares bounced after a tough Wednesday. MarketBeat said the stock dropped 3.6% on June 10, hitting $15.83 intraday and last trading at $15.87. Volume was 85.4 million, above the usual 65.7 million. SoFi closed the day before at $16.47.
Wall Street’s main indexes ticked higher on Thursday morning, with chipmakers out front. The Dow gained 0.90%, S&P 500 rose 0.81%, and Nasdaq Composite was up 1.07% as of 9:56 a.m. ET, Reuters said. Tech shares saw bargain hunting help the move, despite fresh worries about producer prices and Middle East tensions.
ETFs traded with a risk-on mood late this morning. Invesco QQQ Trust climbed roughly 1.1%, tracking the Nasdaq-100. SPDR S&P 500 ETF Trust added around 0.3%. The SPDR Dow Jones Industrial Average ETF moved up about 0.6%.
SoFi is still trading with high beta as the market tracks growth stocks closely. According to Google Finance, SOFI’s beta is 2.14, and its price-to-earnings ratio sits at 36.12. Market cap stands at roughly $20.33 billion. The stock has traded between $13.97 and $32.73 over the past 52 weeks.
The stock is moving after new products from SoFi had investors looking again at the company’s long-term fintech pitch. SoFi announced SoFi Coach, an AI chat tool for personal financial insights, on June 2 and started rolling it out to SoFi Plus members.
Digital assets are in the mix too. SoFi rolled out SoFiUSD, its U.S. dollar stablecoin, on May 27. Members can now buy, sell, hold, and convert SoFiUSD right in the SoFi app. CEO Anthony Noto said in the release, “People no longer have to choose between blockchain technology and regulated banking products.” SoFi
SoFi’s recent quarterly numbers are still driving the action in the stock. The company posted first-quarter GAAP net revenue of $1.1 billion, a jump of 43% from last year. Adjusted net revenue came in at $1.087 billion. Adjusted EBITDA landed at $339.9 million, and net income was $166.7 million. Noto called it an “excellent” quarter in the earnings release. SEC
SoFi said member and product growth stayed strong this quarter. The company added 1.055 million members in Q1, pushing total membership to 14.7 million. Total products climbed to almost 22.2 million. SoFi posted record loan originations of $12.2 billion. That includes $8.3 billion in personal loans, $2.6 billion in student loans, and $1.2 billion in home loans.
Analyst views are still split. Google Finance lists a Hold consensus from 18 analysts over the last three months, breaking down to 6 Buy, 9 Hold, and 3 Sell ratings. Price targets for the next 12 months run from $16.00 to $30.00, averaging $20.87.
On Thursday, traders are watching if SoFi stays over the $15.87 mark set Wednesday as tech indexes try to bounce. The stock remains well under its 52-week high of $32.73. Investors are looking at SoFi’s operating growth, but are also cautious about valuation, credit-cycle, and market risks.
