New York, Feb 3, 2026, 21:31 ET — Market closed.
- SoFi shares dropped 1.4% Tuesday following a volatile session.
- JPMorgan raised its rating on the stock, even as several brokers trimmed their price targets over the last two days.
- Traders are eyeing Wednesday for fresh rate clues, with delayed labor data and Fed minutes set to drop.
Shares of SoFi Technologies, Inc. dipped 1.4% to close at $21.76 on Tuesday. The stock saw a volatile session, climbing above $23 briefly before sellers pushed it back near $21. Trading volume surged past 92 million shares, unusually high for one day, indicating ongoing repositioning in the wake of earnings.
Timing is crucial. The fintech lender is emerging from a reset in expectations driven by its recent results, while Wall Street remains divided on how fast its fee businesses and deposit base will stabilize an earnings record that’s been unpredictable for years.
The tape is reflecting that split. The stock jumped at the open but quickly faded, leaving traders on Wednesday wondering if the initial surge was genuine buying or simply short covering.
JPMorgan Chase’s Reginald Smith upgraded SoFi to Overweight from Neutral, keeping his $31 price target intact. He cited the recent pullback as the buying opportunity he had been waiting for. Smith called the momentum in SoFi’s business “undeniable,” highlighting growth in members and deposits. (Overweight signals the bank expects the stock to outperform.) TipRanks
Not everyone jumped on board. Needham & Company’s Kyle Peterson lowered his price target to $33 from $36 but maintained a Buy rating. He said the cut was due to “more conservative market valuations for high-growth FinTech stocks,” while still holding a positive outlook on SoFi’s fundamentals. GuruFocus
More target cuts came through as UBS dropped its target to $24.50 from $27.50, sticking with a Neutral rating. Deutsche Bank also lowered its target, now at $26 from $27, while keeping its Hold rating, MT Newswires reported.
After a solid headline beat, the stock experienced some volatility. SoFi’s January 30 earnings release showed fourth-quarter adjusted net revenue hitting roughly $1.013 billion, alongside net income of $174 million. The company also noted its member base climbed to 13.7 million. CEO Anthony Noto highlighted this as the first time SoFi surpassed “more than $1 billion in quarterly revenue.” SEC
Other names in the sector also took a hit, underscoring how consumer fintech is pricing like a rate-sensitive asset once more. Upstart Holdings slid 2.8%, LendingClub tumbled 4.6%, and Affirm Holdings edged down 0.5%.
But there’s a catch to the bullish outlook. Should consumer credit weaken or funding costs spike, lenders such as SoFi could face a swift rise in loan losses and tightening margins, turning target cuts into rapid downgrades.
Macro factors are at play as well. On Tuesday, Donald Trump signed a spending bill that ended a four-day partial U.S. government shutdown. However, the brief closure has already thrown the economic calendar into disarray.
The U.S. Bureau of Labor Statistics announced Monday it will postpone the January jobs report originally set for Friday, Feb. 6, until funding is restored. BLS associate commissioner Emily Liddel confirmed the release will be rescheduled. Former BLS commissioner Erica Groshen cautioned that such delays risk compromising data quality.
SoFi traders are zeroing in on Wednesday’s open, when fresh analyst calls are set to land. Then, all eyes will shift to Feb. 18, when the Fed releases minutes from its Jan. 27–28 meeting, potentially shaking up rate forecasts.
