Why is SoFi Technologies stock surging today?

SoFi Technologies stock surged 4.7% in pre-open trading after the company reported record third-quarter 2026 results before the market opened, posting adjusted net revenue up 44% year-over-year to a record $1.4 billion, adjusted EBITDA up 70% to a record $470 million, and EPS of $0.18 — topping the consensus expectation of $0.17 EPS and $1.25 billion in revenue. Critically, SoFi raised its full-year 2026 guidance above analyst estimates, now targeting $5.04 billion in adjusted net revenue, $1.66 billion in adjusted EBITDA, and $0.61 EPS, signaling strong momentum into the fourth quarter. SoFi also issued strong guidance for 2027.

On the analyst front, the move was reinforced by a fresh initiation just one day prior: Monness, Crespi, Hardt initiated coverage with a Buy rating and a $20 price target, noting that the rate reset is largely hedged and represents a one-quarter event, while highlighting that SoFi’s product count increased 42% to 24.4 million in Q2 2026. That bullish stance contrasted with the more cautious tone from KBW, whose analyst reiterated a Sell rating and cut his price target to $15, citing higher interest rates and warning that SoFi’s fair-value accounting could make it harder to meet guidance as rates rise — a concern the strong Q3 results appear to have meaningfully addressed.

The broader market provided a constructive backdrop for today’s move, with the Nasdaq trading up and the S&P 500 gaining modestly, while last week financial services stocks had already seen some rotation as Treasury yields retreated. The stock entered the earnings print in a deeply oversold position, having bottomed at its 52-week low of $13.86 on October 15 — less than half its 52-week high of $32.73 — before buyers began returning ahead of the October 27 report.

Taken together, the combination of a decisive earnings beat, record membership growth of 17.1 million, and a guidance raise that surpassed Street forecasts gave investors the clear positive signal they had been waiting for. SoFi had already demonstrated an earnings beat for 11 consecutive quarters, with revenue far exceeding analyst estimates for at least seven straight quarters, and today’s Q3 report extended that streak — converting pre-earnings anxiety into a pre-market rally.