Why SoFi's stock is soaring after earnings

By William Gavin

SoFi's early 2027 forecast is impressing Wall Street after a tough stretch for the stock

SoFi delivered a 2027 forecast higher than what analysts had modeled.

SoFi Technologies delivered better-than-expected earnings on Tuesday after showing robust growth in its lending business. The company also pleased Wall Street with an early look at what's expected for next year.

The online bank delivered a third quarter its CEO called "remarkable given how 2026 has unfolded," beating analysts' expectations for revenue, earnings per share and net income, among other metrics. SoFi (SOFI) added a "record" 1.2 million members and 2.2 million new products, up 35% and 44%, respectively, compared with a year earlier.

"Our conviction in the opportunity ahead has never been greater," SoFi CEO Anthony Noto said in a statement.

SoFi's stock was up more than 10% in morning action on Tuesday.

The volume of personal-loan originations was up 69% in the quarter to $12.6 billion, while the volume of student-loan originations nearly doubled to $2.9 billion. Home-loan origination volume was up 44% to $1.4 billion. Lending originations track the dollar value of loans originated during a given period.

SoFi also raised its full-year forecast for adjusted net revenue to around $5.04 billion, up from a range that previously topped out at $4.85 billion. That implies year-over-year growth of roughly 40%.

Last quarter, SoFi disappointed investors by raising only guidance for adjusted net revenue. This time, it boosted its forecasts across the board.

SoFi expects 2026 earnings per share of 61 cents, above the 59 cents expected by analysts, according to FactSet.

The company also gave an early look at what to expect for next year, modeling 27% growth in adjusted net revenue to $6.4 billion in 2027. Management projects adjusted earnings of 90 cents a share. Analysts tracked by FactSet were forecasting about $6 billion and 82 cents, respectively.

It's unclear how SoFi's forecasts would be impacted if the Federal Reserve decides to raise interest rates. In early September, CFO Chris Lapointe said a rate increase was "already baked in" to its outlook.

Later that month, the Fed increased its benchmark interest rate by 25 basis points. At the time, Fed Chairman Kevin Warsh declined to say whether he thought that hike would be a one-time occasion. He's set to address the public again on Wednesday.

The new forecasts show SoFi's optimism, though the company hasn't impressed investors this year. As of Monday's close, shares were down nearly 45% this year. The underwhelming performance represents an opportunity, according to some analysts.

Gus Gala, an analyst at Monness, Crespi, Hardt & Co., began covering Sofi's stock on Monday, calling the stock "cheap." In a note to clients ahead of earnings, StoneX analyst Mark Palmer wrote that the combination of falling shares and growing sales made the stock look "inexpensive."

Palmer, whose $25 price target implies 73% growth from Monday's close, also noted that "operational performance and stock price have decoupled," meaning shares aren't reflecting the company's business fundamentals. He said the company's valuation's is likely to expand if it can better convert revenue growth into profit.

-William Gavin

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10-27-26 0937ET