SoFi Technologies originated a record $12.2 billion in combined personal, student, and home loans during the first quarter of 2026, a 68% year-over-year increase. Despite the record, Truist Financial analyst Matthew Coad lowered the firm's price target on SoFi from $20 to $17, citing expectations of weaker second-quarter revenue from the loan platform segment and a 27% revenue decline in the technology platform segment due to the loss of an important client. SoFi's adjusted net revenue rose 41% year over year, and its membership base expanded 35% to 14.7 million. The company also added $3.6 billion in new commitments from capital markets partners to fund personal loans, with loan platform business originations up 90% compared to the first quarter of 2025. Shares of SoFi currently trade 44% below their peak, at a forward price-to-earnings ratio of 29.6.
SoFi Technologies Inc.Truist cut price target from $20 to $17 citing weaker expected revenue
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