New York, Feb 2, 2026, 11:48 EST — Regular session
- SoFi shares dipped midday, underperforming a stronger market.
- Needham lowers its price target to $33 but maintains a Buy rating.
- Investors remain focused on valuation concerns, tech-platform churn, and the interest rate environment.
Shares of SoFi Technologies, Inc (SOFI.O) slipped 1.5% to $22.47 during Monday’s midday session, lagging the S&P 500-tracking SPY, which climbed roughly 0.5%. LendingClub jumped 4.3%, while Upstart added 1.8%.
That gap is key now, since SoFi’s bullish argument hinges on both growth and more reliable, repeatable earnings — factors investors are increasingly scrutinizing in high-growth financial stocks.
This week is packed with U.S. data that could shake up rate expectations—news that usually hits consumer lenders hard and fast. When rates shift, valuations and funding costs quickly follow, and traders act without delay.
San Francisco-based SoFi reported fourth-quarter GAAP net revenue of $1.03 billion on Friday, alongside adjusted net revenue of $1.01 billion—a figure that strips out certain valuation and other items. CEO Anthony Noto described the results as “nothing short of exceptional.” Adjusted EBITDA, which excludes interest, tax, depreciation, and amortization, rose to $317.6 million. Fee-based revenue surged 53% to $443.3 million. The company also revealed a member base of 13.7 million and $10.5 billion in quarterly loan originations. However, Technology Platform enabled accounts dropped 23% to 128.5 million after a major client left the platform. Net interest margin slipped to 5.72%. Management projects adjusted net revenue of roughly $4.655 billion for 2026. (SEC)
During the earnings call, Noto noted that the 2026 outlook factors in “no revenue in 2026” from the tech-platform client that exited. He also said Q4 revenue matched levels seen in the previous six quarters. Chris Lapointe chimed in, projecting “compounded annual adjusted net revenue growth of at least 30% from 2025 to 2028.” (Investing)
Needham & Company stuck with a Buy rating on Monday but lowered its price target to $33 from $36, citing “more conservative market valuations for high-growth FinTech stocks.” (Investing)
Risk appetite was on the rise. The Institute for Supply Management’s manufacturing index bounced back in January to 52.6, signaling expansion after a full year of contraction, data released Monday showed. (Reuters)
Traders remain wary of several pitfalls. A shift in consumer credit—whether rising delinquencies, weakening demand, or a spike in funding costs—could swiftly sour sentiment. Meanwhile, the tech-platform sector is grappling with ongoing client churn.
Investors are turning their attention to two crucial reports: the U.S. jobs report for January, set for release on Feb. 6, and the January CPI data due Feb. 11. Both figures will heavily influence rate expectations ahead of the Federal Reserve’s next policy meeting on March 17-18. (Bureau of Labor Statistics)
