SoFi Stock Keeps Falling Despite ‘Exceptional’ Earnings. What It Would Take to Move SOFI Again.
SoFi (SOFI) shares continue to decline in 2026 despite delivering strong earnings. The company's CEO, Anthony Noto, described Q2 as an "exceptional" quarter, driven by a million new members, higher product cross-sell, and record loan originations. Yet, the market has not responded favorably to these metrics, with the stock down over 30% year-to-date.
Despite the disconnect between earnings and stock price, SoFi's outlook remains optimistic, with management projecting 1 million SoFi Plus subscribers and a potential $120 million annualized recurring revenue run rate. The company raised its full-year revenue guidance but held off on increasing EBITDA guidance, citing expectations of two interest rate hikes this year.
SoFi's improvement in credit quality and its attractive valuation, with a price-to-book value of under 2.1x, suggest potential upside. However, the macro environment, including inflation and expectations of rate hikes, continues to weigh on the stock.
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