New York, February 11, 2026, 07:48 EST — Premarket
- SOFI drifted lower before the bell, extending Tuesday’s weak close.
- Citizens upgraded the stock to Market Outperform, flagging the possibility that growth names might get knocked around by what it calls a “risk-off rotation.”
- Insider selling has caught investors’ attention, as fresh U.S. labor-market data lands.
SoFi Technologies Inc (SOFI.O) edged down 0.9% to $21.00 ahead of Wednesday’s open, following a Tuesday close at $21.18, a drop of 0.8%. 1
The early slide is again raising questions about SoFi’s growth prospects, especially as market views on U.S. rates and consumer resilience shift. Shares often trade like a classic high-growth name—twitchy, reacting sharply to Treasury moves and changes in credit sentiment.
Devin Ryan at Citizens upgraded SoFi to Market Outperform from Market Perform, tagging a $30 price target on the stock. The note pointed to the recent “risk-off rotation”—with traders ditching higher-growth, more speculative names like SoFi—as a major headwind. Ryan called out SoFi’s shift toward fee-based and “capital-light” revenues, a strategy that avoids taking on the risk of holding loans on its own balance sheet. 2
Steven J. Freiberg, a director, picked up 250,000 shares via options at $7.33 each on Feb. 6, paperwork shows. He then sold 94,225 shares at $20.31 apiece, per the Form 4 filing. The filing stated the sale aimed to cover the costs tied to exercising, along with taxes and fees. 3
The stock has hovered around $21, squeezed by conflicting pressures. According to some analysts, the recent pullback appears more about adjusting positions than any fundamental change in the company. Options-driven selling crops up from time to time, and it’s more noticeable with shares already on the decline.
SoFi’s adjusted revenue hit a record $1 billion in the fourth quarter, while adjusted earnings came in at 13 cents per share. Loan originations jumped 46% to $10.5 billion. Over in financial services, which covers everything from credit cards to investing, revenue surged 78% to $456.7 million. Fee-based segment revenue also climbed, up 53%. CEO Anthony Noto told Reuters he expects a “meaningful contraction in credit card lending” if lawmakers impose a proposed 10% cap on credit card rates. 4
Macro narratives are back in play. U.S. stock index futures barely moved, with traders waiting on the delayed January jobs report—pushed back thanks to the partial government shutdown. The focus? Whether the data swings rate cut bets. “A soft data set would likely reinforce dovish Fed expectations… and support the rotation trade,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. 5
Economists expect nonfarm payrolls to show around 70,000 new jobs for January, holding the unemployment rate at 4.4%, a Reuters poll shows. But with annual benchmark revisions in play—and the Bureau of Labor Statistics set to adjust its “birth-and-death” model, which tracks business openings and shutdowns—January’s job growth could look softer than previous months. 6
Yields could dip if the jobs report shows weakness, a scenario that tends to lift growth stocks such as SoFi. Still, a slowdown in hiring brings its own issues; fears of rising delinquencies might pop back up, and investors aren’t shy about pricing that into consumer lenders.
But even after earnings, buyers have stayed away from the stock. If yields jump on robust data, it’s vulnerable. Stricter credit could hit underwriting and dampen demand for personal loans, no matter what’s circulating about possible rate cuts.
The government’s January Employment Situation report drops at 8:30 a.m. ET. Traders aren’t just watching jobs—January’s CPI reading lands Friday, also at 8:30, bringing fresh clues on inflation and rate direction. 7
