SAN FRANCISCO, August 16, 2026, 16:06 PDT — U.S. cash markets closed on Sunday.
- SoFi stock ended Friday at $18.29, falling 0.76%.
- Annualized interest expense is reduced by $712.6 million through deposit funding.
- This amount is roughly 45% of SoFi’s EBITDA target for 2026.
SoFi Technologies Inc. NASDAQ:SOFI closed at $18.29 on Friday, falling 0.76%. The S&P 500 declined 0.17%, whereas the Russell 2000 increased by 0.51%.
The main support for the stock isn’t another record for lending, but rather lower-cost funding. SoFi forecasts that deposits reduce annual interest costs by $712.6 million compared to warehouse financing.
This represents 44.5% of the management’s $1.6 billion adjusted EBITDA goal for 2026. The calculation positions deposits as a key driver of earnings rather than just a balance-sheet figure.
| Friday close | Move | Relative result |
|---|---|---|
| SoFi Technologies NASDAQ:SOFI | -0.76% | Underperformed both indexes |
| S&P 500 | -0.17% | Large-cap index |
| Russell 2000 | +0.51% | Small-cap index |
Deposits totaled $45.5 billion in the second quarter, an increase of $5.3 billion from the previous quarter. Deposits accounted for over 90% of average liabilities. SoFi’s cost on deposits was 156 basis points lower compared to warehouse funding.
| Q2 measure | Result | Change |
|---|---|---|
| GAAP net revenue | $1.219 billion | up 43% compared with previous year |
| GAAP net income | $156.6 million | increase of 61% |
| Adjusted EBITDA | $357.8 million | rose 44% |
| Total originations | $14.8 billion | grew 69% |
| Total members | 15.8 million | increased by 35% |
Chief Executive Anthony Noto stated, “For the first time, we added twice as many products as members.” The number of products per member hit a record 1.54. The pace of cross-buying also increased.
Current members accounted for 51% of new product openings, compared with 35% in the prior year. This is significant, as stronger relationships help distribute acquisition expenses over multiple revenue channels.
| Funding and mix | Q2 marker | Investor implication |
|---|---|---|
| Annualized savings on funding | $712.6 million | 44.5% of 2026 EBITDA goal |
| Revenue from fees | $472.3 million | Equals 39% of revenue for the quarter |
| Net interest income | $788.2 million | Up 52% compared to previous year |
| Net interest margin | 5.98% | Increase of 4 basis points from last quarter |
The funding advantage is capped. It represents an annualized projection rather than recorded profit. Actual outcomes may be affected by deposit rates, loan returns and credit losses.
| Analyst ratings | Number | Percentage |
|---|---|---|
| Buy | 7 | 35% |
| Hold | 10 | 50% |
| Sell | 3 | 15% |
| Overall | Hold | 20 analysts |
The consensus analyst target stands at $22.44, suggesting a 22.7% rise from Friday’s closing price. Projections range between $15 and $35, highlighting considerable divergence among analysts.
Risks: SoFi’s Technology Platform revenue declined by 23% compared to the previous year. The projected annual default rate for personal loans increased to 4.77%, up from 4.57% in the prior quarter. Deterioration in the labor market may negatively impact both credit quality and company valuation.
In the week ahead, the key test is if investors prioritize funding efficiency rather than credit risk. The main upcoming indicators include trends in deposit growth, rates of personal-loan defaults, and the translation of 2026 guidance into actual cash earnings.
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