JPMorgan believes that a recent pullback has created a nice opportunity for investors to buy into SoFi . The bank upgraded the fintech firm and online lender to an overweight rating from neutral. Analyst Reginald Smith reiterated his price target of $31, implying upside of 41%. Shares of SoFi have surged 43% overall in the past 12 months, but have declined 10% since the company’s fourth-quarter earnings call on Jan. 30. SOFI 1Y mountain SOFI 1Y chart The sell-off has come “despite posting record 4Q results and better than expected FY26 Adj. EBITDA guidance, creating the type of entry point we had been waiting for,” Smith wrote. The analyst pointed to SoFi’s momentum in growing its business. He sees the company as ultimately becoming a winner in the digital bank space, and believes it could one day become the “American Express” of fintech. “Momentum in the business is undeniable, as SoFi continues to add new members and deposits at a record pace, while other fintechs report deposit outflows or stagnant member growth, and investments in marketing in ’25 and 1H26 set the stage for continued premium customer acquisition and engagement for the foreseeable future,” he said. Smith also wrote that he remained “relatively comfortable” with SoFi’s credit exposure. The company’s financials remain impressive and justify an upside from here, he added, highlighting specific opportunities for non-interest income growth and improving GAAP profitability. “The company has scaled nicely and boasts material GAAP earnings (ignoring non-cash FV gains) from its nearly ~$40bn loan portfolio, with further upside from fee-income from its Tech Platform and rapidly expanding Financial Services offerings (e.g. SoFi Plus), deserving of a premium valuation,” Smith wrote.
