NEW YORK, July 9, 2026, 15:01 (EDT)
- SoFi Technologies, Inc. NASDAQ:SOFI gained roughly 4.3% in afternoon trade after Goldman Sachs Group NYSE:GS raised its target and investors looked at the company’s product lineup.
- Shares are still off almost 30% for the year, so this latest move looks more like traders trying to fix earlier losses than a fresh breakout.
- The next big event is set for July 29. SoFi will post its Q2 numbers before the market opens that day.
SoFi Technologies, Inc. NASDAQ:SOFI rose Thursday after Goldman Sachs bumped its price target to $21 from $17 while sticking to its Neutral rating. The hike brought a tougher question for investors—how much of the SoFi pitch is about lending, and how much could shift to steady fee revenue?
This matters now with SoFi shares last at $18.49, still far under their 52-week high after bouncing for a month. At that price, Goldman’s new target points to roughly 14% upside, while the stock’s old high of $32.73 is still about 77% above where it trades. MarketWatch data had SoFi down 29.77% for the year.
| Measure | Latest reading | Investor read |
|---|---|---|
| SoFi share price | $18.49, up about 4.3% | Stock is up today, bounce still seen as a recovery play |
| Goldman Sachs target | $21, from $17 | Target price is 13.6% more than current |
| 52-week range | $14.92-$32.73 | Sits well below last year’s top print |
| Market cap | $25.5 billion | Needs bigger scale on new launches to impact profits |
SoFi rolled out its new SoFi Social 50 Income ETF (NYSEARCA:SFYI) this week. It’s an ETF, not a loan, tracking the 50 most widely held U.S.-listed stocks in SoFi Invest self-directed accounts. The fund also uses covered calls and call spreads to try for more income, giving up some upside. It’s a follow-up to the SoFi Social 50 ETF (NYSEARCA:SFYF), which counts Tesla, Inc. NASDAQ:TSLA, NVIDIA Corp. NASDAQ:NVDA and Amazon.com, Inc. NASDAQ:AMZN among its holdings.
Brian Walsh, SoFi’s head of advice and planning, said the new fund gives income-focused investors “another way to pursue their objectives.” The fund might help SoFi keep users in its app, but early economics look limited. With a 0.73% gross expense ratio, the fund would generate $7.3 million in gross annual fees for each $1 billion in assets, before splits among providers. SoFi said Tidal Investments is investment adviser, while SoFi acts as brand sponsor and handles marketing, not fund management. SoFi Investors
The ETF gives more of a read on sentiment than a lift to earnings right now. SoFi posted $386.8 million in fee-based revenue for the first quarter. Total net revenue was $1.1 billion; net income, $166.7 million. CEO Anthony Noto called it a quarter of “durable growth and strong returns.” The company said members jumped 35% to 14.7 million. SEC
SoFi trades between consumer lenders and top trading platforms. The P/E, or price-to-earnings ratio, shows what investors pay for a dollar of profit over the last year.
| Company | Latest price | Market cap | P/E |
|---|---|---|---|
| SoFi Technologies, Inc. NASDAQ:SOFI | $18.49 | $25.5 bln | 41.1x |
| Robinhood Markets, Inc. NASDAQ:HOOD | $116.36 | $106.5 bln | 56.5x |
| Ally Financial Inc. NYSE:ALLY | $45.13 | $14.1 bln | 11.0x |
Robinhood’s premium valuation shows investors are still willing to pay up for exposure to growth in trading, crypto and accounts. Ally, trading at a much lower multiple, is more in line with what the market pays for deposit-backed lenders. SoFi is trying to stick closer to Robinhood, which explains why revenue from ETFs, crypto, advisory and brokerage businesses is in focus even though those lines are still small for now.
Wall Street moved higher as chip stocks bounced, with Micron Technology Inc. NASDAQ:MU leading semis and pushing financials up too. Ross Mayfield, investment strategy analyst at Baird, told Reuters, “This is still very much an AI bull market.” On quieter sessions, that risk-on tone makes a difference for high-beta fintechs like SoFi, sometimes almost as much as the company’s own news. Reuters
The new ETF still comes with standard risks for funds, like possible losses, no guarantee of monthly payouts, and options strategies that might cap returns. In its first-quarter filing, SoFi also reported its Technology Platform revenue dropped 27% after losing a big client. That shows the fintech platform story still needs to deliver.
The July 29 print is the key one to watch. Investors want to see if deposits, loan originations, fee revenue and tech-platform accounts can prove the company isn’t only riding the market bounce, but growing fast enough outside core credit to back up a premium multiple.
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