New York, May 18, 2026, 14:03 (EDT)
SoFi Technologies stock was flat Monday afternoon. Shares slipped from their early gains as the market considered the company’s record lending and growth in members, while fintech stocks faced more pressure. SoFi traded at $15.60, down less than 0.1%. The stock moved between $15.40 and $16.31, with close to 44.7 million shares changing hands.
SoFi is still feeling the effects of its late-April earnings. The market has been hesitant since then, after the company kept its 2026 revenue target unchanged. That came as SoFi’s first-quarter report beat on loan demand and member growth, but Reuters reported the stock dropped after the announcement.
Nasdaq lags as yields, oil climb
Stocks moved lower on Monday. The Nasdaq underperformed after Treasury yields and oil prices ticked higher, raising worries over inflation and borrowing costs again. The 10-year Treasury was yielding 4.630% at midday, according to Reuters.
SoFi (SOFI) posted first-quarter net revenue of $1.10 billion, a jump of 43% from a year ago, with net income coming in at $166.7 million. Adjusted EBITDA hit $339.9 million. SoFi’s member count was up 35% to 14.7 million. Total loan originations for the quarter landed at $12.2 billion.
SoFi CEO Anthony Noto said in a statement the quarter delivered “durable growth and strong returns.” He said new business in digital assets is “strengthening and diversifying” the platform. Product count grew 39% to 22.2 million, the company said. Q4
Analysts took a more cautious stance. William Blair’s Andrew Jeffrey said SoFi didn’t reflect first-quarter revenue and EBITDA gains in its 2026 outlook, according to Reuters. The firm also called the downside “limited” after shares dropped. Reuters
Truist’s Matthew Coad dropped his SoFi price target to $17 from $20, staying at Hold. Coad pointed to lower sale expectations for the loan platform and dialed back his outlook for the Technology Platform unit. That part, which provides banking and payments tech to other companies, is still viewed as an important non-lending area for SoFi.
SoFi’s numbers show the trouble. Technology Platform net revenue dropped 27% in the first quarter. The company said that includes a hit from a big client that left the platform before the end of 2025.
Peers traded mostly flat to down, putting SoFi’s action in line with the wider fintech group. Robinhood lost around 0.3%, Affirm dropped 3.4%, and Nu Holdings ticked lower by 0.2%, the latest market figures showed.
Deal news as well. The Paypers said Monday that SoFi confirmed it bought most assets of UK-based PrimaryBid, picking up technology for directed share programs that collect retail orders in IPOs and bond deals. PrimaryBid’s site showed SoFi bought its technology.
But the risks are still there. Higher rates could hit loan demand, and credit losses might go up. If the Technology Platform business doesn’t bounce back after losing that client, investors might keep seeing SoFi as just a lender, even though it trades like a growth stock, instead of viewing it as a more diversified financial platform.
Next up is execution. Traders want to see if Q1 loan growth sticks around in the second quarter, with credit quality holding steady. They’re also watching to see if fee-based businesses can pick up slack if lending slows.
