SoFi Technologies reported impressive second-quarter 2026 results, yet its shares have plunged 37.1% so far in the year. The company delivered adjusted net revenues of $1.21 billion, a 40% year-over-year increase that surpassed the Zacks Consensus Estimate of $1.11 billion, while adjusted EPS came in at 12 cents, in line with expectations. Management raised its full-year 2026 adjusted net revenue guidance to approximately $4.75-$4.85 billion, implying 32% to 35% growth, and continues to expect adjusted EBITDA of approximately $1.6 billion. The Lending segment saw adjusted net revenues jump 59% to $711.7 million, and the Financial Services segment grew 29% to $466.3 million, but the Technology Platform segment remained a headwind with revenues declining 23% to $84.5 million. SoFi added a record 1.1 million members, reaching 15.8 million total, and loan originations hit a record $14.8 billion, up 69% year over year. Despite the strong operating momentum, the stock trades at a premium forward P/E of 23.17X versus the industry's 13.15X, leading Zacks Investment Research to maintain a Hold rating and suggest existing investors monitor Technology Platform growth and credit performance.
SoFi Technologies Inc.Stock plunges 37.1% YTD despite strong Q2 earnings, trading at premium valuation with Hold rating
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