SoFi Technologies shows strong Q2 growth with record loan originations and rising net income, prompting a Buy rating and an $18.31 price target as the firm targets 1 million SoFi Plus subscribers.
SoFi Technologies is currently positioned as a value-oriented fintech play, with Q2 2026 GAAP net income surging 61% YoY to $156.59M and record loan originations of $14.8 billion. Despite a 47% decline from its 52-week high, the company maintains strong fundamentals, including a 19th consecutive quarter exceeding the 'Rule of 40' and a strategic push to grow SoFi Plus subscribers to 1 million. Analysts maintain a $18.31 price target, viewing the current valuation as compressed relative to peers like Robinhood and Affirm.
The price target is $18.31, representing a 5.48% upside over the next 12 months.
SoFi has a $22B valuation, which is significantly lower than Robinhood's $91B, despite SoFi delivering higher GAAP net income than Affirm on similar revenue.
CEO Anthony Noto aims to grow the service to 1 million paid subscribers, generating $120 million in annual revenue within a year.
SoFi Technologies reports a 61% year-over-year surge in Q2 GAAP net income to $156.59 million, driven by record loan originations of $14.8 billion. Despite a 47% decline from its 52-week high, analysts maintain a Buy rating with an $18.31 price target, citing strong fundamental growth and CEO Anthony Noto's aggressive expansion of the SoFi Plus subscriber base.
SoFi trades at a $22 billion valuation, which is roughly one-quarter of Robinhood's $91 billion market cap, despite delivering higher GAAP net income on similar revenue levels.