SoFi Draws Fresh Buying at $16.67 After Q1 Net Income Jumps 134%
Updated
Updated · 24/7 Wall St. · Jun 12
SoFi Draws Fresh Buying at $16.67 After Q1 Net Income Jumps 134%
3 articles · Updated · 24/7 Wall St. · Jun 12
Summary
$16.67 SoFi shares are being accumulated despite a Fed-driven tech sell-off, with the stock down 36.33% year to date even as investors point to stronger underlying bank-like economics.
Q1 2026 net income rose 134.45% to $166.73 million, adjusted EBITDA reached $339.9 million at a 31% margin, and management guided about $4.655 billion in 2026 adjusted net revenue.
$40.24 billion in deposits now fund more than 90% of liabilities, helping SoFi cut funding costs by 48 basis points while loan originations climbed 68% to $12.18 billion.
Growth concerns remain in the technology platform, where revenue fell 27% after a major client left, while personal-loan charge-offs edged up to 3.03% from 2.80% sequentially.
Anthony Noto bought 31,423 shares in early May, reinforcing a longer-term case tied to cross-selling, stablecoin payments via Mastercard, and new loan-platform commitments totaling $3.6 billion.