New York, July 3, 2026, 06:04 EDT
- Nasdaq will be closed Friday for the Independence Day holiday, leaving SoFi as the unofficial wrap for the week as trading doesn’t reopen until July 6.
- SoFi closed Thursday at $18.24, slipping 1.1% for the session. The stock remains 2.0% higher compared to last Friday’s finish at $17.88.
- The signal wasn’t just the new small-business loan. It was the stock’s failed move toward $19.19 on higher-than-normal volume.
SoFi Technologies, Inc. NASDAQ:SOFI heads into the July 4 holiday up for the week, but Thursday’s session wasn’t clear-cut. Shares hit $19.19 intraday before closing at $18.24, down nearly 5% from the high. Trading volume reached 81.38 million shares, around 14% higher than the 65-day average, even with Nasdaq markets closed Friday for Independence Day observed.
SoFi’s new move is catching attention but not so easy to put in a model. The company rolled out fixed small-business loans ranging from $2,500 up to $250,000, with no application, origination, or prepayment fees. CEO Anthony Noto said members’ financial needs “do not stop at personal goals,” pointing to “the businesses they are building.” SoFi Investors
| July 2 market check | Last price | Day move | Intraday range | Volume read |
|---|---|---|---|---|
| SoFi Technologies, Inc. NASDAQ:SOFI | $18.24 | down 1.1% | $17.77 to $19.19 | 81.38 million; 114% versus 65-day average |
| Invesco QQQ Trust Series 1 NASDAQ:QQQ | $712.60 | off 1.7% | $707.64 to $731.26 | 51.09 million |
| SPDR S&P Regional Banking ETF (NYSEARCA:KRE) | $75.02 | fell 1.5% | $74.58 to $76.84 | 17.88 million |
SoFi managed to top both the QQQ and the regional-bank ETF for the day, but the stock pulled back from its high again. Shares are down nearly 30% this year, and even with a new loan category, investors aren’t bidding up the valuation in a big way.
SoFi’s small-business loan product comes with a bigger ticket than its consumer loans. The $250,000 limit is about 9.7 times an average SoFi personal loan, which stood at $25,673 in the first quarter. But SoFi did $12.18 billion in originations over the quarter, led by $8.34 billion from personal loans, so the new product would need to ramp up a lot before it moves the dial.
| SoFi lending marker | Reported figure | Investor read |
|---|---|---|
| New small-business loan range | $2,500-$250,000 | Trying to tap more than just consumer loans |
| Q1 personal-loan originations | $8.34 bln, +51% yr/yr | Personal loans keep driving originations |
| Q1 student-loan originations | $2.61 bln, +119% yr/yr | Big jump comes as refi picks up |
| Q1 home-loan originations | $1.22 bln, +137% yr/yr | Growth fast off a lower base |
| Q1 average personal-loan balance | $25,673 | Small business loans top average by a wide margin |
KBW stayed on the sidelines after the launch. TipRanks/The Fly said Keefe Bruyette left its Underperform rating and $16 target unchanged following the small-business loan news, saying it doesn’t expect an immediate financial impact. The note added that wider small-business offerings might let SoFi build up a “sizable business over time.” TipRanks
Wall Street analysts are divided. Citi’s Peter Christiansen lowered his price target to $30 from $37, keeping a Buy rating, blaming “multiple compression” in lending tech, according to TipRanks. The platform’s wider analyst poll shows a Hold consensus out of 19 analysts: six rate Buy, 10 say Hold, and three are at Sell. TipRanks
Valuation fights come as SoFi posts strong numbers. In Q1, SoFi reported GAAP net revenue of $1.1 billion, adjusted EBITDA at $339.9 million, and net income of $166.7 million. Member count jumped 35% from a year ago to 14.7 million. Management stuck to its 2026 targets: about $4.655 billion adjusted net revenue, $1.6 billion adjusted EBITDA and adjusted EPS of 60 cents.
The stock ended Thursday at $18.24, or roughly 30 times the company’s adjusted EPS target for 2026. Trading will resume July 6. Next up: SoFi is set to report Q2 results on July 29, releasing numbers at 7 a.m. ET, with the earnings call at 8 a.m. ET.
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