Forbes published an in-depth analysis on June 16, 2026. The report details SoFi's business model challenges and accounting practices. Wall Street analysts have downgraded the stock to a hold rating. Investors increasingly view SoFi as a traditional lending business rather than a fintech innovator.
Lending-based services generated 88% of net revenues during Q1 2026. This concentration follows slowing growth in the company's technology services segment. SoFi shares fell 15% after the first-quarter earnings announcement in April.