New York, Feb 3, 2026, 10:47 EST — Regular session underway.
- SoFi shares climbed 0.2%, having earlier reached $23.34
- JPMorgan Chase & Co raised to Overweight with a $31 price target
- Recent SEC filing reveals SoFi’s chief risk officer held a hedging contract linked to 71,500 shares
SoFi Technologies shares ticked up 0.2% to $22.12 by mid-morning Tuesday, after briefly hitting $23.34. The Nasdaq-listed stock started the day at $23.04, buoyed by a bullish note from JPMorgan.
The upgrade comes at a tricky time for the fintech lender. JPMorgan pointed out the stock has dropped roughly 10% since Friday’s earnings call, making each broker update a possible spark—or another reason to offload shares.
This matters because it marks a reset point. Investors are parsing SoFi’s 2026 guidance, weighing how much growth comes from “capital-light” fee income versus risk tied to balance-sheet lending. They’re also debating if the drop after the earnings was just a positioning move. On Wall Street, “Overweight” means a bet the stock will beat its sector or coverage group.
JPMorgan’s Reginald Smith raised SoFi to Overweight from Neutral, maintaining a $31 price target. He said the recent selloff “has created the entry point” he had been waiting for and highlighted “undeniable” momentum, citing record-speed growth in members and deposits. TipRanks
UBS took a more cautious stance, dropping its price target to $24.50 from $27.50 and maintaining a Neutral rating. The firm highlighted a slight beat in adjusted net revenue and EBITDA—earnings before interest, taxes, depreciation, and amortization—while noting strength in the Financial Services and Technology Platform segments. Needham & Company trimmed its target to $33 from $36 but held onto a Buy rating, citing faster-than-expected scaling in the loan platform business and growth in on-balance-sheet lending.
Bank of America’s analyst Mihir Bhatia cut his target on SoFi to $20 from $20.50, maintaining an Underperform rating. He noted the company’s 2026 outlook still falls short of BofA’s projections and called the valuation “stretched relative to peers,” which include fintech lenders like Affirm Holdings and Upstart Holdings. TipRanks
Another filing with the U.S. Securities and Exchange Commission revealed Chief Risk Officer Arun Pinto entered into a prepaid variable forward contract linked to 71,500 shares, securing roughly $1.2 million upfront. Simply put, these deals typically act as a hedge, with the final share count adjusting based on the stock’s price movements over time.
The tape remains volatile. Should credit performance falter or funding costs rise more than anticipated, the stock could easily shed these headline-fueled gains. Tuesday’s initial jump fizzled out — and traders see that as a clear signal.
SoFi announced Monday it will liquidate and shut down the SoFi Next 500 ETF, listed on NYSE Arca, following approval from Tidal Trust I trustees at the request of Tidal Investments LLC and SoFi. Trading is set to end after the close on Feb. 18, with liquidation expected around Feb. 25. Remaining shareholders will receive cash distributions, which may be taxable, the company said.
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