New York, January 6, 2026, 10:49 (ET) — Regular session
- SOFI is down about 8% after a filing detailed the completion of additional stock sold into its December offering.
- Barclays lifted its target while Goldman cut, highlighting a split view on valuation into results.
- Traders are watching the $27.50 offer price area and the late-January earnings report.
SoFi Technologies, Inc. NASDAQ:SOFI shares were down 7.8% at $27.01 in late morning trading on Tuesday after a filing showed the fintech completed the sale of additional shares tied to its December stock offering. Underwriters exercised an option on Jan. 2 and the company completed the issuance and sale on Jan. 5, lifting the total shares sold in the offering to 57,754,660, according to the filing.
The extra stock adds supply at a sensitive moment for high-growth lenders, where sentiment can turn quickly on funding costs and loan demand. Issuing new shares can dilute existing holders — meaning each share represents a smaller slice of the company — and that often weighs on the price in the near term.
Traders also tend to treat the offer price as a reference point, and SoFi is now trading just below $27.50. The underwriters’ option — often called an over-allotment or “greenshoe” — lets banks buy more shares after a deal to meet demand and help steady trading.
SoFi priced the $1.5 billion offering on Dec. 4, selling 54,545,454 shares at $27.50 and granting underwriters the right to buy up to 8,181,818 additional shares. The company said it planned to use net proceeds for general corporate purposes, including bolstering its capital position and funding growth opportunities.
Barclays analyst Terry Ma raised his price target on SoFi to $28 from $23 and kept an Equal Weight rating, pointing to a “benign” credit environment that could support loan growth in 2026. He also forecast a better mortgage origination market this year, the note showed. TipRanks
Goldman Sachs analyst Michael Ng cut his price target to $24 from $27 while maintaining a Neutral rating, underscoring a more cautious stance even as some firms turn more constructive on the group.
SoFi’s drop outpaced moves in other consumer finance names: LendingClub was down about 3%, Affirm fell roughly 1.8% and Upstart was little changed, while the tech-heavy Invesco QQQ Trust was up about 0.7%. The stock opened at $29.23 and has traded between $29.32 and $26.93.
A key risk is that a weaker economy or rising delinquencies could push lenders to tighten credit, slowing growth and lifting losses. Any investor concern that SoFi may return to equity markets for more capital could also keep pressure on the shares.
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