New York, May 21, 2026, 14:06 (EDT)
SoFi Technologies shares dipped 0.2% to $15.66 in early afternoon trading Thursday, trailing gains in the tech sector as investors looked at the online lender’s strong first-quarter growth but also fresh concerns about rates, oil and credit risk. Shares moved in a $15.36 to $15.76 range, and about 27.7 million shares changed hands.
SoFi made only a minor move, but the timing is notable. The stock has struggled to bounce back after it slumped on its April earnings. That report logged record revenue and loan growth, but investors focused on the decision to keep the 2026 outlook the same.
Riskier fintech stocks couldn’t get much traction as the market stayed tight. Reuters said Wall Street was hit earlier Thursday after oil prices climbed, stoking fresh inflation fears and lifting the 10-year Treasury yield to 4.615%. Higher yields tend to weigh on growth stocks and make borrowing tougher for lenders.
SoFi traded mixed against other fintechs by late morning. Affirm was up 0.8% and Upstart edged 0.2% higher, but LendingClub dropped 1.3%. The split moves pointed to traders steering away from a broad call on consumer-finance tech stocks.
SoFi’s latest news is still its first-quarter results. Adjusted net revenue came in at $1.1 billion, up 41% from a year ago. Adjusted EBITDA was $340 million, a 62% jump. The company added 1.1 million members, bringing total members to 14.7 million.
Loan growth drove results. Total originations reached a new high at $12.2 billion, with $8.3 billion in personal loans, $2.6 billion in student loans, and $1.2 billion in home loans. The company posted first-quarter net income of $166.7 million, or 12 cents per share.
Chief Executive Anthony Noto called it a “remarkable start to 2026” on the earnings call. He said SoFi pulled in over $1 billion in cash revenue for a second quarter in a row. Chief Financial Officer Chris Lapointe said demand from the company’s loan-platform capital partners was “extremely robust.” Q4 Investors
Still, the stock has lagged even with the strong numbers. Reuters said after earnings that SoFi left its full-year profit forecast at 60 cents a share and revenue near $4.66 billion. William Blair’s Andrew Jeffrey said the company did not push the first-quarter beat into higher 2026 guidance. “The Street will hate these results,” Jeffrey wrote, but also pointed to “limited downside.” Reuters
Noto told Reuters at the time, “The health of our consumer base remains strong,” adding that demand was steady for loans and debit cards. That’s the case for the bulls: SoFi keeps adding users, cross-selling to members, and expanding its financial app instead of just depending on lending. Reuters
The risk is clear. SoFi holds certain loans on its balance sheet, bringing in steady interest income but also exposing the company to credit risk if borrowers struggle. Noto told investors on the call that holding loans ties up capital and comes with default risk. If rates stay high or inflation squeezes consumers, investors could start to doubt whether loan growth justifies the extra risk.
SoFi shares didn’t get a lift from its record quarter in Thursday’s session. The focus now shifts to whether the company can push member and loan growth into bigger 2026 numbers, without loading up risk on the balance sheet.
