New York, May 23, 2026, 18:04 (EDT)
- SoFi shares ended Friday at $15.62, off 3 cents. The stock was about flat compared to last Friday, when it closed at $15.61.
- SoFi bought lending-software firm Peach Finance, according to trade press reports. Terms of the deal were not released.
- U.S. equities are closed Monday for Memorial Day with no trading on NYSE or Nasdaq. Markets reopen Tuesday.
SoFi Technologies closed last week with little change, but news of a deal to buy Peach Finance gave investors another look at whether the digital lender can restore faith in its tech platform after a tough month for the stock.
Timing is a factor. SoFi ended Friday at $15.62, down 0.19% on the day. The Dow Jones Industrial Average reached a record close, and the S&P 500 gained for the eighth week in a row. Reuters said hopes for Middle East talks and a strong run of earnings pushed the S&P 500 higher.
SoFi has acquired Peach Finance, a loan management software company based in California, according to a Friday report from FinTech Futures. Peach offers software for loan servicing to banks, credit unions and fintechs targeting non-mortgage lending. Financial terms weren’t released.
SoFi’s deal for Peach is not just a minor add-on for its story. SoFi has been working to convince Wall Street that it is more than just a consumer lender. Peach will be grouped with Galileo and Technisys inside SoFi Technology Solutions. Peach CEO Eddie Oistacher said the deal pulls processing, core banking, payments and risk management “under one roof.” FinTech Futures
SoFi’s Technology Platform segment posted a 27% year-over-year drop in revenue for the first quarter. That contrasts with lending revenue, which jumped 55%, and financial services revenue, up 41%. The consumer business kept growing quickly, but the B2B software segment continued to lag.
SoFi posted Q1 adjusted net revenue of $1.09 billion, a gain of 41%. Adjusted EBITDA came in at $339.9 million, up 62%. Net income reached $166.7 million. Adjusted EBITDA excludes interest, taxes, depreciation, amortization and some items the company picks. CEO Anthony Noto said it was a quarter of “durable growth and strong returns.”
SoFi stock hasn’t traded like a straightforward growth play. Reuters said last month that shares dropped after SoFi kept its 2026 revenue guidance flat, even with record Q1 numbers. William Blair’s Andrew Jeffrey pointed out the company didn’t lift guidance after its first-quarter revenue and EBITDA beat.
Analyst calls are still mixed. Mizuho’s Dan Dolev dropped his SoFi target to $29 from $38 but left his Outperform in place, saying the quarter was “solid” and member growth “remained robust.” Truist’s Matthew Coad trimmed his price target to $17 from $20, holding on to his Hold rating. He pointed to lower Q2 revenue forecasts and flagging tech platform expectations. @IntellectiaAI
Peer tapes didn’t give traders much to go on. Shares of credit-focused fintechs Affirm dropped about 2.9% Friday, while Upstart slipped 0.9%. Both stocks often move on the same themes—loan demand, credit quality, funding costs, and how much future growth should get priced in.
SoFi option action pointed to caution on Friday. TheFly said call options outpaced puts, but the put-call skew got steeper as traders looked for more downside protection. Puts increase in value if the stock drops.
Markets kick off a shortened week after Memorial Day. Investors focus on any Peach filing or news once trading resumes Tuesday. Broader rate signals are also in view. The Bureau of Economic Analysis schedules its next personal consumption expenditures price index release for May 28. The PCE is one of the Fed’s key inflation measures.
The downside risk isn’t gone. If Peach doesn’t move the needle for Technology Platform growth, or if fintech lenders keep feeling the squeeze from rates and credit fears, the deal could look more like a stopgap than a real boost. More analyst downgrades would just add to that argument.
SoFi stays near $15, still hanging around that level. The stock hasn’t broken out. Traders look past the Peach deal headline and focus instead on whether the company can drive software and lending growth at the same time, without putting more strain on margins.
