SoFi Technologies (SOFI) is scheduled to report its second-quarter 2026 financial results before the market opens on July 29, with analysts focused on loan platform momentum, margins, customer acquisition costs and the company’s full-year guidance.

Shares of SoFi were recently trading at $16.46, down 37% year-to-date and roughly 50% below the company’s 2026 high. The stock’s decline has come despite stronger reported operating results in the first quarter of 2026, making the upcoming report a test of whether recent earnings growth and member expansion are translating into durable profitability.

In Q1 2026, SoFi reported record loan originations of $12.18 billion, up 68% from the same period a year earlier. The company posted GAAP net income of $166.73 million, a 134% increase year-over-year, while operating income rose more than 150%.

SoFi’s member base grew 35% year-over-year in the first quarter. The company also said 43% of newly acquired products were taken up by existing customers, a metric tied to its cross-selling strategy. That figure is relevant because greater adoption among existing members can help support revenue growth without relying solely on new customer acquisition.

For the full year, management has guided for adjusted net revenue of $4.655 billion, representing about 30% growth, and adjusted earnings per share of $0.60. Longer-term projections call for a 38% to 42% compound annual growth rate in adjusted EPS through 2028.

Valuation Metrics and Peer Comparisons

SOFI is trading at a forward price-to-earnings ratio of 28 and a PEG ratio of 0.81. PEG ratios below 1.0 are commonly viewed as indicating that a stock’s valuation is low relative to its expected earnings growth, although such metrics depend on assumptions and future performance.

Street consensus price targets across different platforms range from $20.58 to $21.20. The $21.20 average target implies approximately 29% potential upside from recent levels. SoFi has also exceeded analyst expectations for seven consecutive quarters.

Among comparable fintech lenders, LendingClub trades at a forward P/E ratio of 12 while reporting 12.5% year-over-year revenue growth. Upstart trades at a forward P/E ratio of 36, with a 4.21% profit margin and a 0.9% operating margin.

Neither LendingClub nor Upstart has a banking charter or deposit franchise. SoFi’s reported profit margin stands at 14.8%, while its operating margin is 18.3%, higher than the comparable figures cited for both competitors. The distinction matters for investors comparing fintech lenders because deposit franchises and lending models can affect how companies fund growth and manage margins.

Analysts Maintain a Cautious Consensus

Wall Street’s prevailing rating on SoFi ahead of the earnings release remains Hold. The current breakdown includes nine Hold ratings, six Buy recommendations and three Sell ratings.

Truist analyst Matthew Coad maintained a Hold rating on SoFi ahead of the Q2 report, while raising his price target to $18 from $17. He described his near-term view heading into the results as “tactically more bearish.”

Coad cited several concerns, including net interest margin compression, rising customer acquisition expenses linked to competition from neobanks, and the possibility that growth in the Loan Platform Business could slow because of difficult year-over-year comparisons.

He also noted that meeting the company’s full-year guidance would require meaningful acceleration in the second half of the year. According to Coad, any revenue shortfall or increase in spending could put the $0.60 adjusted EPS target at risk.

The options market is pricing in a larger-than-usual move around the earnings announcement. Implied volatility for SOFI around earnings is 10.45%, above the stock’s average post-earnings move of about 8.5% over the previous four quarters.

Consensus estimates for the second quarter call for earnings per share of $0.11, representing 37.5% year-over-year growth. Revenue is expected to be roughly $1.11 billion, about 30% higher than the same period last year. Beyond the headline EPS and revenue figures, investors are likely to compare loan growth, margin trends and spending levels against the pace required to support management’s full-year outlook.

SoFi Technologies is set to release its Q2 2026 results before the opening bell on July 29.