New York, Feb 3, 2026, 10:47 EST — Regular session.
- SoFi shares up 0.2% after earlier touching $23.34
- JPMorgan Chase & Co upgrades to Overweight, keeps $31 target
- New SEC filing shows SoFi chief risk officer used hedging contract tied to 71,500 shares
SoFi Technologies shares were up 0.2% at $22.12 in mid-morning trade on Tuesday after earlier climbing to $23.34, as investors responded to a bullish call from JPMorgan. The Nasdaq-listed stock had opened at $23.04.
The upgrade lands at an awkward moment for the fintech lender. JPMorgan noted the stock has fallen about 10% since Friday’s earnings call, turning every broker note into a potential catalyst — or a fresh excuse to sell.
It matters because this is the reset window. Investors are digesting 2026 guidance, trying to judge how much of SoFi’s growth is “capital-light” fee income versus balance-sheet lending risk, and wondering whether the post-results slide was simply positioning. “Overweight,” in Wall Street shorthand, is a bet the stock will outperform its sector or coverage group.
JPMorgan analyst Reginald Smith upgraded SoFi to Overweight from Neutral and kept a $31 price target. He wrote that the selloff “has created the entry point” he had been waiting for and called momentum in the business “undeniable,” pointing to record-paced member and deposit growth. (TipRanks)
Other firms have been more cautious. UBS lowered its price target to $24.50 from $27.50 and kept a Neutral rating, citing a modest beat in adjusted net revenue and EBITDA — earnings before interest, taxes, depreciation and amortization — alongside strength in the Financial Services and Technology Platform segments. Needham & Company cut its target to $33 from $36 while reiterating a Buy rating, pointing to growing on-balance-sheet lending and a loan platform business that it said is scaling faster than expected. (TipRanks)
At Bank of America, analyst Mihir Bhatia trimmed his target to $20 from $20.50 and kept an Underperform rating. He said SoFi’s 2026 outlook still missed BofA’s own estimates, and described the valuation as “stretched relative to peers,” a group that includes consumer-lending fintech names like Affirm Holdings and Upstart Holdings. (TipRanks)
A separate filing with the U.S. Securities and Exchange Commission showed Chief Risk Officer Arun Pinto entered a prepaid variable forward contract tied to 71,500 shares and received about $1.2 million up front. In plain terms, these structures often work like a hedge: the eventual number of shares delivered can vary with the stock price over time. (SEC)
But the tape is still jumpy. If credit performance disappoints, or if funding costs bite harder than expected, the stock can give up these headline-driven gains quickly. The early pop on Tuesday didn’t stick — and that, for traders, is part of the message.
SoFi also said on Monday it plans to liquidate and close the SoFi Next 500 ETF, which trades on NYSE Arca, after trustees of Tidal Trust I approved the plan at the request of Tidal Investments LLC and SoFi. The fund is expected to stop trading at the close on Feb. 18 and liquidate on or about Feb. 25, with remaining shareholders receiving cash distributions that could be taxable, the company said. (Globenewswire)
