New York, June 9, 2026, 05:08 (EDT)
- SoFi was at $16.50, after gaining 47 cents, or 2.93%, at Monday’s close. The company’s market cap is about $22.7 billion.
- Nasdaq gained 0.86% Monday, while the S&P 500 added 0.30% as tech bounced.
- The company’s record results for the first quarter are still the main driver here, with no new overnight filing to point to.
SoFi Technologies stock stayed flat at $16.50 in premarket trading Tuesday, holding on to a 2.9% climb from Monday as the online bank and fintech firm faces investor questions after a tough patch for growth-oriented financial stocks. Regular trading on the Nasdaq kicks off at 9:30 a.m. Eastern, with pre-market action starting at 4:00 a.m.
Timing is key. Monday saw a bounce as U.S. stocks clawed back from Friday’s selloff. Chipmakers and major tech names led the Nasdaq up, and the S&P 500 also rose. Rick Meckler at Cherry Lane Investments told Reuters buyers were “bargain hunting,” but he cautioned that the market still looked priced for perfection. Reuters
For SoFi, it’s not all about the day’s trading. The real focus is if strong loan growth, deposits, and gains in members are enough to offset concerns that management isn’t moving quickly to lift its targets.
SoFi posted first-quarter adjusted net revenue of $1.1 billion, a 41% jump. Adjusted EBITDA came in at $340 million, up 62%. The company reported total loan originations hit a record $12.2 billion. SoFi said it ended the quarter with 14.7 million members, up 35%. EBITDA is earnings before interest, tax, depreciation and amortization.
Chief Executive Anthony Noto, in the earnings release, said the quarter brought “durable growth and strong returns,” pointing to “innovation and brand building” as drivers. Noto also told Reuters: “The health of our consumer base remains strong.” SEC
SoFi shares sank 12% in April after holding its 2026 revenue outlook steady, even with a record quarter, Reuters said. William Blair’s Andrew Jeffrey noted SoFi didn’t pass through Q1 revenue and EBITDA upside, but called the downside “limited.” Reuters
Analysts are divided on the stock. TipRanks says Mizuho’s Dan Dolev stuck with a Buy, chopping his price target to $29 from $38 after calling the first quarter “solid” but taking down estimates for 2026 and 2027. TipRanks
Sofi’s peer group is more about growth-fintech rivals like Robinhood, Upstart, and LendingClub, not just banks, according to Investing.com. The stock tends to trade off what’s happening with rates, consumer credit, and how much risk retail investors want to take.
Sofi still faces clear risks. Higher rates threaten loan demand and hit high-growth valuations. If credit weakens, charge-offs show it fast. Technology platform revenue dropped 27% in Q1, after a major client exited. That’s a signal—some pieces aren’t growing together.
Tuesday is looking cleared out, but the setup isn’t sturdy. A steadier Nasdaq could hand SoFi another shot to move on membership and loan figures. But any fresh rate or credit worries put the valuation — sitting at roughly 36.7 times earnings by the latest data — on the line if numbers slip.
