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SoFi Technologies' Q2 Guidance Weaker Than Expected, 2026 Outlook Implies Ramp in H2, Morgan Stanley Says

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SoFi Technologies' (SOFI) guidance for Q2 was weaker than expected, while the 2026 outlook implies a ramp up in H2, Morgan Stanley said in a Thursday research note.

The company's Q2 guidance implies about $1.11 billion to 1.12 billion in revenue, which is 0.7% below Morgan Stanley estimates, and $330 million to $340 million in earnings before interest, taxes, depreciation and amortization, which is 16% below prior estimate, Morgan Stanley said.

The firm lowered its Q2 earnings per share estimate by 4 cents to $0.11 and kept its revenue estimate unchanged at $1.123 billion.

Morgan Stanley said the company has noted an increase in marketing spend in H1, in addition to investments in product innovation, which it believes will drive a ramp up in H2 and support longer-term growth.

Morgan Stanley lowered its price target on the company's stock to $16 from $18 and kept its underweight rating.

Price: $16.21, Change: $+0.68, Percent Change: +4.38%

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