New York, May 21, 2026, 14:06 (EDT)
SoFi Technologies shares slipped 0.2% to $15.66 in early-afternoon trading on Thursday, lagging a firmer tech tape as investors weighed the online lender’s strong first-quarter growth against renewed worries over rates, oil and credit risk. The stock traded between $15.36 and $15.76, with volume near 27.7 million shares.
The move was small, but the timing matters. SoFi has been trying to recover from the selloff that followed its April earnings report, when record revenue and loan growth were overshadowed by the company’s decision to leave its 2026 forecast unchanged.
The broader market gave little room for riskier financial technology shares to run. Reuters reported that Wall Street had come under pressure earlier Thursday as higher oil prices revived inflation worries and pushed the 10-year Treasury yield to 4.615%; higher yields can make growth stocks less attractive and can raise borrowing-cost concerns for lenders.
By late morning, SoFi was moving against a split peer group. Affirm rose 0.8%, Upstart gained 0.2%, while LendingClub fell 1.3%, suggesting traders were not making a single clean bet across consumer-finance technology names.
SoFi’s last hard news remains its first-quarter report. The company posted adjusted net revenue of $1.1 billion, up 41% from a year earlier, and adjusted EBITDA — earnings before interest, taxes, depreciation and amortization, a measure of operating profit — of $340 million, up 62%. It also added 1.1 million members, taking total members to 14.7 million.
Loan growth was the centerpiece. Total originations hit a record $12.2 billion, including $8.3 billion of personal loans, $2.6 billion of student loans and $1.2 billion of home loans. The company said first-quarter net income was $166.7 million, or 12 cents a share.
Chief Executive Anthony Noto called it a “remarkable start to 2026” on the company’s earnings call, while also saying SoFi generated more than $1 billion in cash revenue for a second straight quarter. Chief Financial Officer Chris Lapointe said demand from loan-platform capital partners remained “extremely robust.” Q4 Investors
Still, the stock has struggled because investors wanted more than strong numbers. Reuters reported after the earnings release that SoFi kept its full-year profit outlook at 60 cents a share on revenue of about $4.66 billion, with William Blair analyst Andrew Jeffrey saying the company had not carried first-quarter upside into higher 2026 guidance. Jeffrey wrote that “The Street will hate these results,” though he also saw “limited downside.” Reuters
Noto told Reuters then that “The health of our consumer base remains strong,” and said demand was solid across loans and debit-card spending. That is the bull case: SoFi is adding users, selling more products to existing members and building a wider financial-services app rather than relying on one lending line. Reuters
But the risk is plain. SoFi holds some loans on its balance sheet, which can create recurring interest income but also brings credit risk if borrowers weaken. Noto said on the call that loans held on balance sheet require capital and carry default risk; if rates stay high or inflation pressure hits consumers, investors may question whether loan growth is worth the added exposure.
For now, Thursday’s trading says the market is not giving SoFi much credit for its record quarter. The next test is whether management can turn member growth and loan demand into higher 2026 expectations without making the balance sheet look riskier.
