SoFi Stock Jumps 8% as Increased Tax Rate Offsets Earnings Lift by Five Cents

SOFI last traded at $16.47, following an 8.0% jump on Thursday. The company’s market value stood at around $22.7 billion. Shares remain down roughly 36% in 2026. In comparison, the Nasdaq Composite has climbed 8.1%, while the S&P 500 is up 8.6%. This puts SoFi’s performance about 44 percentage points behind those benchmarks. Barron’s

The company exceeded expectations by significant margins. Adjusted revenue was $1.206 billion, above the $1.12 billion consensus estimate. Adjusted earnings came in at $0.12 per share, topping forecasts by a cent. GAAP net income rose 61% to $156.6 million. Adjusted EBITDA grew 44% to $357.8 million, resulting in a 30% margin. Business Wire

SoFi updated its revenue outlook to a higher range, while keeping profit projections steady. Adjusted EPS guidance remained at $0.60, and the company reaffirmed its EBITDA forecast at around $1.6 billion. Shares slid roughly 9% in early trading on Wednesday. Investors expressed concerns over growth quality and ongoing Technology Platform challenges. An 8% rise on Thursday recouped much of the previous loss, though some decline persisted. Reuters

Adjusted revenue for the first half stood at $2.293 billion. The midpoint of the full-year guidance, set at $4.80 billion, implies the need for $2.507 billion in the latter half. Adjusted EBITDA in the first half was $697.7 million. Achieving the $1.6 billion goal means generating about $902 million more, representing a 36% margin. While the target seems within reach, most of the progress must come later in the year. Business Wire

Total originations jumped 69% to an all-time high of $14.8 billion. Personal loan originations totaled $10.7 billion, with $3.1 billion generated for third parties. Originations for student and home loans came to $2.7 billion and $1.4 billion, respectively. Lending revenue climbed 63% to $724.8 million, accounting for nearly 59% of overall company revenue. Although the third-party channel provides support, SoFi remains significantly exposed to consumer credit. Business Wire

The annualized charge-off rate for personal loans was reported at 2.62%, down from 3.03%. The figure is impacted by asset sales, new originations, and delinquency sales. Excluding late-stage delinquency sales, management puts the all-in rate at around 3.7%. Student-loan charge-offs dropped to 0.61%. The rate of 90-day delinquencies held steady. Credit trends have strengthened, though management’s estimated 3.7% all-in figure remains unchanged. Business Wire

Fee-based revenue totaled $472.3 million, accounting for 39% of revenue for the quarter. This represented a 22% increase from the previous quarter. Financial Services revenue rose 29% to $466.3 million. Technology Platform revenue declined 23% to $84.5 million, though it was up 13% from last quarter. Contribution margin in that segment decreased from 30% to 14%. The business is showing signs of diversification, but technology remains its least robust area. Business Wire

Membership climbed 35% to 15.8 million, with products up 42% to reach 24.4 million. The average number of products per member hit a new high of 1.54. Existing customers accounted for 51% of new product openings, compared with 35% the previous year. Deposits rose by $5.3 billion during the quarter to total $45.5 billion. Despite these gains, Financial Services contribution margin declined by six points to 46%. The customer flywheel continues to gain momentum, but growth-related expenses remain substantial. Business Wire

SoFi reported a Common Equity Tier 1 (CET1) capital ratio of 18.7%, exceeding the required minimum of 7.0%. Tangible book value grew 56% from a year ago to $7.34 per share. The number of shares outstanding increased by about 1.6% in the first half, while diluted weighted-average shares for the quarter were 14.3% higher year-on-year. With shares at $16.47, SOFI trades at roughly 2.24 times its tangible book value. Capital remains robust, though dilution per share continues to be a factor. Business Wire

Based on management’s adjusted EPS forecast of $0.60, SOFI trades at around 27.5 times earnings. Applying a standard earnings multiple in the 28–32 range suggests a share price of roughly $17–$19. A higher multiple of 35–40 would indicate $21–$24 per share, while a lower multiple between 22–25 points to a valuation of $13–$15. These figures represent valuation ranges rather than exact targets. Consensus analyst price targets are $19.87 and $22.67, with both analysts rating the stock a Hold. The variance stems from differences in analyst methodologies, assumptions and timing of updates. Business Wire