SoFi Technologies (NASDAQ:SOFI) Shares Gap Up Following Better-Than-Expected Earnings

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $14.46, but opened at $15.98. SoFi Technologies shares last traded at $16.0740, with a volume of 44,236,201 shares traded.

The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.25 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%. The firm’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share.

SoFi Technologies News Summary

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Quarterly results exceeded expectations. SoFi reported approximately $1.37 billion in third-quarter revenue versus the $1.25 billion consensus estimate, while earnings per share of $0.18 topped analyst expectations of roughly $0.16–$0.17. Net income reached a record $241 million, and revenue increased 44% year over year. SoFi Reports Third Quarter 2026
• Positive Sentiment: Lending and membership growth remained robust. Lending volume surged 71%, and membership reached approximately 17 million after another strong quarter of customer additions. The figures support management’s argument that SoFi is still gaining share from traditional financial institutions. Why is SoFi stock jumping today?
• Positive Sentiment: Management raised guidance and issued an optimistic 2027 outlook. SoFi now expects about $5.04 billion in adjusted revenue and $0.61 in adjusted EPS for 2026. Its initial 2027 forecast calls for adjusted EPS of roughly $0.90, implying approximately 48% growth and providing a catalyst for the shares. SoFi Expects to Earn 48% More in 2027
• Positive Sentiment: Analyst support added to the bullish reaction. Monness Crespi & Hardt initiated coverage with a Buy rating and a $20 price target, suggesting substantial upside from the referenced $14.46 level. SoFi receives a fresh Buy rating
• Neutral Sentiment: Investors will continue to monitor credit quality, net interest margins and the effect of interest rates on borrowing demand. SoFi’s high beta and valuation also leave the stock vulnerable to broad market volatility.
• Negative Sentiment: Prior concerns remain, including the stock trading well below its 52-week high and an earlier Truist price-target reduction to $16. These issues could limit gains if the strong guidance fails to translate into sustained profitability. Truist cuts target for SoFi

Analyst Ratings Changes

Several brokerages have recently issued reports on SOFI. Mizuho reduced their target price on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of SoFi Technologies in a research note on Monday, October 12th. Needham & Company LLC cut their price objective on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Stonex Financia raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Monday, October 12th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.95.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,203 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $14.72, for a total transaction of $150,188.16. Following the transaction, the executive vice president owned 397,870 shares of the company’s stock, valued at $5,856,646.40. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the transaction, the chief technology officer owned 912,650 shares of the company’s stock, valued at approximately $15,971,375. This represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 50,316 shares of company stock valued at $852,605. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of SoFi Technologies during the second quarter worth $1,298,925,000. Bank of America Corp DE acquired a new stake in SoFi Technologies during the 2nd quarter worth $163,808,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in SoFi Technologies during the 2nd quarter worth $93,937,000. Bank of New York Mellon Corp bought a new position in SoFi Technologies during the second quarter worth about $72,531,000. Finally, Legal & General Group Plc bought a new position in SoFi Technologies during the second quarter worth about $64,706,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Up 11.3%

The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $20.79 billion, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 0.85 and a beta of 2.33. The company has a fifty day simple moving average of $16.66 and a two-hundred day simple moving average of $18.10.

About SoFi Technologies

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.