NEW YORK, Feb 4, 2026, 09:20 EST — Premarket
- SoFi shares slipped 1.4% to $21.76 in premarket action, following a close of $22.08 on Tuesday
- After the stock dropped following earnings, JPMorgan raised its rating on the fintech lender to overweight, setting a $31 price target
- An SEC filing revealed SoFi’s chief risk officer utilized a stock-linked forward contract involving 71,500 shares
Shares of SoFi Technologies slipped 1.4% to $21.76 in premarket trading Wednesday, following a $22.08 close the day before.
The shift follows Wall Street’s reaction to SoFi’s post-earnings dip and new analyst opinions. JPMorgan’s Reginald Smith raised his rating to overweight from neutral, maintaining a $31 price target. He called the company’s momentum “undeniable,” according to 6 .
A new insider filing caught investors’ attention. Chief Risk Officer Arun Pinto has entered a prepaid variable forward contract—a stock-linked deal that provides cash upfront and settles later in shares or cash. The contract is secured by 71,500 SoFi shares, with the upfront payment estimated at roughly $1.2 million. The settlement date is scheduled for around Feb. 2, 2029. 1
Fintech remains uneven, with analysts zeroing in on select names instead of the sector as a whole. Barron’s highlighted SoFi’s gains in member growth and deposits but noted weaker signals from other players. They also mentioned Morgan Stanley’s recent upgrade of buy-now-pay-later firm Affirm. 2
SoFi hit its first $1 billion revenue quarter last week and forecast faster growth this year, yet the stock has had trouble holding the initial surge. CEO Anthony Noto called the fourth quarter “nothing short of exceptional” in the earnings release. The company posted record adjusted net revenue of $1.013 billion, adjusted EBITDA at $318 million, fee-based revenue of $443 million, and net income of $173.5 million. Fourth-quarter loan originations came in at $10.5 billion, and SoFi ended 2025 with 13.7 million members. 3
Rates continue to drive fintech lenders and digital banks, while the macro calendar stays complicated. ADP reported private payrolls climbed by 22,000 in January on Wednesday. The company also highlighted that official Labor Department jobs figures have been thrown off by a recent government shutdown. 4
But there’s a risk on the downside. A more severe slowdown could dent demand for personal loans and drive up credit losses. At the same time, persistent high rates would keep funding costs elevated, putting pressure on growth stocks’ valuations.
Looking ahead, traders will be monitoring if the JPMorgan upgrade sparks buying interest when markets open at 9:30 a.m. ET, and if other firms jump on the upgrade bandwagon following the earnings season reset. Attention will then turn to Friday’s Employment Situation report for January, scheduled for 8:30 a.m. ET. However, economists remain cautious about the timing due to recent funding uncertainties. 5
