Robinhood, SoFi, and Webull Are Telling Very Different Stories

Summary

The retail investing boom delivered platforms that promised to democratize finance. The democratization happened, but investors are now voting no. SoFi Technologies NASDAQ: SOFI, Robinhood NASDAQ: HOOD, and Webull NASDAQ: BULL are three of the most prominent names in digital-first platforms for investors who prefer apps over branches. Yet even with some strong recent earnings and diversification, falling share prices, high expectations, regulatory risks, and economic uncertainty are clouding their outlooks. This earnings season has shown how their stories diverge. One is maturing into a real earner. One is reinventing itself as a full-service bank. And one will soon give an update. Understanding the differences among them is key to knowing whether any of them belongs in a portfolio.Get Robinhood Markets alerts:Sign Up SoFi: Outgrowing Its OriginsSoFi’s first-quarter results represent the strongest fundamental case of the three. Revenue for this year’s first three months came in at a record $1.09 billion, up 41% year-over-year. That represented a 31% EBITDA margin, meaning considerable operating leverage from its ongoing shift toward a diversified digital bank. Net income reached $167 million, or 12 cents a share, for the quarter, an impressive achievement for a company that just two years ago began its public life mostly as a student loan refinancer. SoFi Technologies TodaySOFISoFi Technologies$15.61 -0.41 (-2.56%) As of 05/15/2026 04:00 PM Eastern52-Week Range$12.74▼$32.73P/E Ratio35.48Price Target$22.56 The transformation of SoFi is notable. Moving beyond a single loan category or revenue stream, it now operates across personal lending, home loans, a digital checking and savings platform, a credit card, an investing product, and a technology business that serves other financial institutions. Each of those segments cross-sells into the others. One member who comes for a savings account now has an option for a personal loan, a home loan, or an investment account. Th...