SoFi Technologies Inc (NASDAQ:SOFI) shares are trading higher Tuesday as risk appetite improves with major index ETFs pushing higher.
- SoFi Technologies stock is showing exceptional strength. Why is SOFI stock surging?
What’s Driving SoFi Technologies Stock Today?
The latest push-pull still traces back to first-quarter results: SoFi posted record loan originations of $12.2 billion and revenue of $1.08 billion, but guidance came in a touch light versus consensus. Management guided adjusted net revenue to about $1.115 billion versus a $1.12 billion Street view, with EPS guided to a range of 10 cents to 11 cents.
With guidance only about $5 million below the Street on revenue, the stock has turned into a "base vs. breakdown" test after the longer drawdown from the $32.73 52-week high. Bulls have pointed to operating momentum, including members up 35% to 14.7 million and total products up 39% to 22.2 million.
SoFi Technologies is also on traders' radar as a potential on ramp for retail participation in the SpaceX IPO, with the prospectus terms highlighting no minimum account balance requirements on SoFi's platform. That matters because "IPO access" narratives can briefly lift engagement expectations for brokerage apps, even if the near-term driver remains rates and credit.
Critical Price Levels To Watch For SOFI
At $16.30, SoFi is trading 1.1% above its 20-day SMA ($16.12), but it remains 2.8% below the 50-day SMA ($16.76) and well under the longer trend gauges—16.9% below the 100-day SMA ($19.60) and 30.1% below the 200-day SMA ($23.33). That moving-average stack keeps overhead supply in play, especially with the 20-day SMA still below the 50-day SMA (bearish) and the death cross in March (50-day below the 200-day) still framing the bigger downtrend.
For momentum, MACD is the cleaner read here: with MACD below its signal line and the histogram negative, it suggests upside pressure is fading and rallies can stall unless buyers reclaim that baseline. Put simply, MACD compares shorter-term momentum to a slower "signal" trend, and staying below the signal line often means sellers still have the edge on follow-through.
- Key Support: $15.00 — a nearby level where buyers previously stepped in, making it a practical "hold or fail" area given current price proximity
How SoFi Technologies Makes Money
SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning.
The company aims to be a one-stop shop for customers' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, it also provides payment and account services for debit cards and digital banking, which is why traders often weigh member/product growth against near-term guidance so closely.
SoFi Technologies Benzinga Edge Scorecard Analysis
Below is the Benzinga Edge scorecard for SoFi Technologies, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Weak (Score: 12.94) — The stock's trend is still lagging, which lines up with price sitting below the 50-day, 100-day, and 200-day moving averages.
- Growth: Strong (Score: 98.18) — The company screens well on growth, matching the narrative around rising members and expanding product adoption.
The Verdict: SoFi Technologies’s Benzinga Edge signal reveals a growth-heavy profile with weak momentum. For longer-term bulls, the setup improves if the stock can keep defending $15.00 and start reclaiming the 50-day moving average to reduce overhead supply.
SOFI Stock Price Activity During Premarket
SOFI Stock Price Activity: At the time of publication, SoFi Technologies shares were up 3.39% at $16.15 on Tuesday, according to Benzinga Pro data.
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