SOFI, LC, UPST: SoFi Shares Plunge 15% as Cautious Full-Year Guidance Overshadows Q1 Bea

SoFi Shares Plunge 15% as Cautious Full-Year Guidance Overshadows Q1 Beat

Apr 29, 2026 21:25 UTC

SOFI, LC, UPST

Short term

SoFi Technologies experienced a sharp sell-off on Wednesday, with shares closing at $15.53, a decline of 15.44%. The drop occurred despite a first-quarter performance that exceeded revenue expectations and demonstrated robust growth in both membership and product adoption. The market reaction centered on management's full-year guidance rather than operational failures. By reiterating a 30% growth target for sales and membership in 2026, the company failed to excite investors who were seeking more aggressive forward-looking projections. Trading activity was intense, with volume hitting 196.2 million shares, nearly triple the three-month average of 67 million. The company is guiding toward an adjusted EPS of $0.60 for 2026, which places the stock at approximately 26 times forward earnings. The volatility extended to the broader digital lending sector. Peers such as Upstart and LendingClub also closed lower, dropping 7.24% and 1.81% respectively, suggesting a wider cooling of sentiment toward digital lenders despite the flat performance of the S&P 500 and Nasdaq Composite.

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SoFi Shares Plunge 15% as Cautious Full-Year Guidance Overshadows Q1 Beat

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