Soil nailing technique is being widely used for stabilization of vertical cuts because of its economic, environment friendly and speedy construction. Global stability and lateral displacement are the two important stability criteria for the soil nail walls. The primary objective of the present study is to evaluate soil nail wall stability criteria under the influence of in-situ soil variability. Finite element based numerical experiments are performed in accordance with the methodology of $2^3$ factorial design of experiments. Based on the analysis of the observations from numerical experiments, two regression models are developed, and used for reliability analyses of global stability and lateral displacement of the soil nail wall. A 10 m high prototype soil nail wall is considered for better understanding and to highlight the practical implications of the present study. Based on the study, lateral displacements beyond 0.10% of vertical wall height and variability of in-situ soil parameters are found to be critical from the stability criteria considerations of the soil nail wall.