SAN FRANCISCO, September 1, 2026, 09:35 PDT — SoFi Technologies (SOFI) shares declined 4.2% as the fintech’s high 29-times earnings ratio was tested by decelerating loan growth.
- SoFi dropped 4.2% to $17.129 as of 12:35 EDT.
- The price is roughly 28.5 times the management’s projected adjusted EPS for 2026.
- Deposits for the second quarter totaled $45.5 billion, with loan originations increasing by 69%.
Shares of SoFi Technologies, Inc. NASDAQ:SOFI declined 4.2% to $17.129 on Tuesday. As of 12:35 EDT, trading volume totaled 22.3 million shares Yahoo Finance.
The drop was greater than the 0.7% decrease recorded by the financial-sector ETF XLF. It also surpassed losses seen in two consumer-finance rivals. As of the reporting deadline on Tuesday, there was no new filing from the company SEC filing feed.
Valuation now stands out as the key concern for investors. SoFi’s shares traded at 28.5 times the company’s projected 2026 adjusted EPS of $0.60, based on management’s guidance. This high multiple requires swift loan growth to deliver sustained profitability.
SoFi intraday price
Regular-session snapshots, U.S. dollars
The environment for operations continues to be favorable. Revenue for the second quarter climbed 43% to $1.219 billion. Net income advanced 61% to $156.6 million, with diluted EPS arriving at $0.12 SoFi’s earnings release.
Chief Executive Anthony Noto described the quarter as a “clear inflection point.” The total number of products climbed 42% to reach 24.4 million. Current members accounted for 51% of newly opened products.
Total loans originated rose by 69% to $14.8 billion. The fastest growth came from student-loan volume, up 170% to $2.69 billion. Personal loans continued to account for almost three-quarters of all originations.
Quarterly loan originations accelerated
Second quarter volume, $ billions
Funding offers the most significant support for earnings. Deposits increased by $5.3 billion in the quarter, reaching $45.5 billion. The average rate on deposits was 156 basis points less than the cost of warehouse funding.
Funding advantage versus credit risk
Source: SoFi Q2 2026 results. Charge-off estimate includes recoveries and excludes late-stage delinquent-loan sales.
Management reported an all-in personal-loan net charge-off rate of 3.7%, a decrease of 70 basis points from the previous quarter. Student-loan annualized charge-offs declined to 0.61%.
The balance sheet continues to show a focus on credit. As of June 30, loans measured at fair value reached $46.6 billion. Of that amount, personal loans made up $27.5 billion SoFi’s Form 10-Q.
Tuesday saw the market continue to price in that risk swiftly. Shares of Upstart Holdings, Inc. NASDAQ:UPST declined 3.7%. Robinhood Markets, Inc. NASDAQ:HOOD finished little changed.
SoFi led the fintech declines
Change from August 31 close to September 1, 12:35 EDT
Source: Yahoo Finance quote data for SOFI, UPST, HOOD and XLF. Figures are snapshots, not streaming prices.
Management increased its 2026 adjusted revenue forecast to a range of $4.75 billion to $4.85 billion, indicating growth of 32%-35%. The adjusted EBITDA goal remains at $1.6 billion.
Risks: Consumer losses may increase if unemployment deteriorates. Declining rates could compress asset yields more quickly than deposit expenses. Technology Platform revenue dropped by 23% in the second quarter.
The upcoming report needs to demonstrate that deposit savings are a secure source for funding growth. Investors are set to review loan sales and charge-offs as well. These indicators will determine if the 29-times multiple stands.
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