SoFi Technologies (SOFI) heads into its Q2 2026 earnings report on July 29 with its stock trading at $16.46 — down 37% year-to-date and roughly 50% off its 2026 highs.
That’s a wide gap between the stock price and what the business has actually been doing.
Q1 2026 showed record loan originations of $12.18 billion, up 68% year-over-year. GAAP net income came in at $166.73 million, a 134% jump from the same period last year. Operating income rose over 150%.
Member growth came in at 35% year-over-year, and 43% of new products were taken up by existing members — a sign the cross-sell model is working.
For the full year, management is guiding for $4.655 billion in adjusted net revenue, roughly 30% growth, and $0.60 in adjusted EPS. Medium-term guidance points to a 38% to 42% adjusted EPS CAGR through 2028.
At a forward P/E of 28 and a PEG ratio of 0.81, SOFI’s valuation looks cheap relative to its growth rate. A PEG below 1 generally signals a stock is undervalued compared to its earnings growth.
The analyst consensus price target sits at $20.58 to $21.20, depending on the source — both imply meaningful upside from current prices. SoFi has beaten estimates for seven consecutive quarters.
For comparison, LendingClub trades at a forward P/E of 12 but is growing revenue at just 12.5% year-over-year. Upstart carries a forward P/E of 36 with a 4.21% profit margin and a 0.9% operating margin. Neither has a bank charter or deposit base.
SoFi’s 14.8% profit margin and 18.3% operating margin put it ahead of both peers on profitability.
Wall Street’s consensus heading into earnings is a Hold — nine Holds, six Buys, and three Sells.
Truist analyst Matthew Coad reiterated his Hold rating ahead of Q2 results, nudging his price target up to $18 from $17. He described himself as “tactically more bearish” into the print.
Coad’s concerns include pressure on net interest margin, rising customer acquisition costs from neobank competition, and a potential slowdown in the Loan Platform Business due to tough year-over-year comparisons.
He also flagged that full-year guidance implies a sharp back-half acceleration. Any shortfall in revenue or an uptick in spending could put the $0.60 EPS target at risk.
Options traders are less cautious. The implied move for SOFI post-earnings is 10.45%, above the stock’s average post-earnings move of around 8.5% over the past four quarters.
Wall Street expects Q2 EPS of $0.11, up 37.5% year-over-year, on revenue of approximately $1.11 billion, a roughly 30% increase.
SOFI reports Q2 2026 results before market open on July 29.
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