During CNBC's Mad Money episode on August 5, a caller questioned the near-term trajectory of SoFi Technologies, Inc. (NASDAQ:SOFI), pointing out that the stock has remained stuck in a tight trading band between $16 and $19 over the past six months. The long-term shareholder asked whether host Jim Cramer maintains a positive outlook on the company despite its stagnant price action. Cramer responded:
Okay, look, SoFi, Robinhood, a bunch of these fintech companies have kind of been in the doldrums, as people said, "You know what? We're focusing, we're going to go right back to the old, JPMorgans and Bank of Americas and Bank of New Yorks. So, I think what you're doing is you're seeing a shift toward the old. It'll come back to the new. Take your time. SoFi is good. I would own it.
SoFi Technologies, Inc.'s (NASDAQ:SOFI) six-month range-bound pattern between $16 and $19 reflects a digestion period following prior expansion waves. For long-term shareholders, Cramer's advice centers on patience rather than panic. By advising investors to "take your time" and confirming that he "would own it," Cramer emphasized that SoFi Technologies, Inc.'s (NASDAQ:SOFI) long-term growth thesis remains intact.
The frustration over SoFi's range-bound share price contrasts with its performance. The company delivered strong second-quarter 2026 financial results, beating Wall Street expectations across top-line and bottom-line metrics. Non-GAAP earnings per share came in at $0.12, beating estimates by a penny, while adjusted net revenue surged 40% year-over-year to $1.21 billion, outperforming consensus of $1.12 billion. Total loan originations reached a record $14.8 billion during the period.
Furthermore, customer acquisition and product cross-selling also expanded significantly during the quarter. Total membership grew 35% year-over-year to a record 15.8 million, while total products increased 42% to 24.4 million. SoFi Technologies, Inc.'s (NASDAQ:SOFI) financial services productivity loop gained further traction, with existing members opening 51% of new products added during the quarter.
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Okay, look, SoFi, Robinhood, a bunch of these fintech companies have kind of been in the doldrums, as people said, "You know what? We're focusing, we're going to go right back to the old, JPMorgans and Bank of Americas and Bank of New Yorks. So, I think what you're doing is you're seeing a shift toward the old. It'll come back to the new. Take your time. SoFi is good. I would own it.
SoFi Technologies, Inc.'s (NASDAQ:SOFI) six-month range-bound pattern between $16 and $19 reflects a digestion period following prior expansion waves. For long-term shareholders, Cramer's advice centers on patience rather than panic. By advising investors to "take your time" and confirming that he "would own it," Cramer emphasized that SoFi Technologies, Inc.'s (NASDAQ:SOFI) long-term growth thesis remains intact.
The frustration over SoFi's range-bound share price contrasts with its performance. The company delivered strong second-quarter 2026 financial results, beating Wall Street expectations across top-line and bottom-line metrics. Non-GAAP earnings per share came in at $0.12, beating estimates by a penny, while adjusted net revenue surged 40% year-over-year to $1.21 billion, outperforming consensus of $1.12 billion. Total loan originations reached a record $14.8 billion during the period.
Furthermore, customer acquisition and product cross-selling also expanded significantly during the quarter. Total membership grew 35% year-over-year to a record 15.8 million, while total products increased 42% to 24.4 million. SoFi Technologies, Inc.'s (NASDAQ:SOFI) financial services productivity loop gained further traction, with existing members opening 51% of new products added during the quarter.
#quarter
12 days ago
