New York, Feb 5, 2026, 15:29 EST — Regular session underway.
- SoFi Technologies shares fell about 5% in afternoon trading, extending a turbulent week for fintech lenders
- JPMorgan’s upgrade earlier this week failed to stop the stock’s slide after the company laid out its 2026 forecast
- Next week’s delayed U.S. jobs and inflation data are in investors’ sights for fresh hints on interest rate moves
Shares of SoFi Technologies, Inc (SOFI) fell 5.3% to $19.65 Thursday afternoon, down from $20.75 at Wednesday’s close. The stock touched a session low of $19.20.
The drop follows investors reevaluating SoFi’s growth projections after the company set 2026 targets that call for about 30% adjusted net revenue growth and roughly $1.6 billion in adjusted EBITDA, a profit measure excluding some one-time expenses. Management also forecasted around $1.04 billion in adjusted net revenue for Q1. 1
JPMorgan upgraded SoFi to “Overweight” on Tuesday, maintaining its $31 price target. Analyst Reginal Smith pointed to the recent post-earnings pullback as an opportunity to buy, citing solid momentum fueled by growth in members and deposits. 2
SoFi slipped on Thursday during a widespread selloff, sparked by doubts over Big Tech’s AI spending plans. “There’s a lot of uncertainty about whether these bets will pay off,” noted Tom Hainlin, investment strategist at U.S. Bank Wealth Management, as the S&P 500 and Nasdaq each fell about 1%. 3
Other consumer-lending and fintech stocks fell as well: Affirm tumbled about 5%, Upstart plunged more than 8%, and LendingClub declined close to 2%.
On Wall Street, an “Overweight” rating signals the analyst’s belief that the stock will outperform its peers. JPMorgan’s target hinges on the PEG ratio, which tweaks the price-to-earnings multiple by factoring in growth rate.
For a lender, the trade can reverse fast when markets turn defensive. If credit costs rise or new member growth falters, investors pivot sharply from long-term targets to focus on near-term earnings results.
Focus turns to next week’s postponed U.S. January jobs report, now due Feb. 11, followed by the January Consumer Price Index data on Feb. 13. These key numbers might upend interest rate expectations, impacting borrowing costs, funding conditions, and sentiment around high-growth finance stocks. 4
