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Shares of SoFi Technologies, Inc. (SOFI) popped in Wednesday's premarket, riding a wave of improved risk sentiment. U.S. stock futures jumped after President Donald Trump announced a two-week ceasefire on Iran strikes, easing geopolitical tensions that had weighed on markets.
But there was company-specific news too, and it's the kind of thing that gets fintech watchers excited. SoFi didn't just ride the wave; it tried to build a new one.
SoFi unveiled something called SoFi Big Business Banking. The pitch is straightforward but ambitious: it's a single, regulated platform where businesses can manage both their regular old dollars and their cryptocurrency.
Think about it like this. A company today might have a bank account for payroll and vendor payments, and then a separate account on a crypto exchange for, say, settling blockchain-based transactions or holding digital assets. SoFi's new offering tries to smash those two worlds together. It lets businesses hold deposits, move money in real time, and settle transactions around the clock—all from one dashboard.
The platform combines the regulatory heft of a nationally chartered bank with modern, API-driven tech to enable that 24/7 functionality. This isn't coming out of nowhere; it builds on SoFi's broader push into blockchain, including its crypto services, its SoFiUSD stablecoin, and its regulated on-chain infrastructure. The company is essentially stitching all these pieces together to offer a more complete package for what it sees as the next generation of financial services.
And they've already got some big names willing to give it a try. Early participants include Mastercard Inc. (MA), along with crypto custody specialists BitGo and Fireblocks. When Mastercard shows up, it's a signal that institutional interest is real.
The broader tech sector was up over 4% on Tuesday, so SoFi's move has some tailwind. But let's look under the hood at the stock's technical picture.
At a premarket price around $17.53, the stock is trading about 4.9% above its 20-day simple moving average. That suggests some short-term bullish momentum. The catch? It's still trading 7.3% below its 50-day average and a hefty 24.1% below its 100-day average. So, the short-term trend looks okay, but the intermediate and longer-term trends are still pointing down.
The Relative Strength Index (RSI) sits at 36.44, which is basically neutral territory—not overbought, not oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is flashing a tentative bullish signal, with the MACD line (-0.9633) sitting above its signal line (-1.0802).
Zooming out, the 12-month performance tells a story of recovery: the stock is up 69.58% from its lows. It's currently well above its 52-week low of $8.60, which is a positive for the longer-term trend.
Mark your calendars: SoFi is scheduled to provide its next financial update on April 29, 2026. The expectations are for meaningful growth:
The analyst consensus currently sits at a Hold rating, with an average price target of $24.53. Recent moves have been a mix of initiations and target adjustments:
For a stock like SoFi, it's not just about individual investors. It's also about the machines—specifically, the ETFs that hold it. Because of its weight in certain funds, money flowing into or out of those ETFs can force automatic buying or selling of SOFI shares. Here are the key ones:
That ARKF holding, in particular, is meaningful. If investors pile into or flee from Cathie Wood's fintech fund, the ETF managers have to trade the underlying stocks to match, and SoFi is one of them.
Putting it all together, SoFi shares were up 8.75% at $17.52 in premarket trading Wednesday. The stock got a lift from a calmer geopolitical mood, but the bigger story might be its attempt to build a bridge between the world of bank wires and the world of blockchain—and convincing businesses to walk across it.
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