Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $55.13 Consensus Target Price from Brokerages

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $57.6250.

FIGR has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $51.00 price target on shares of Figure Technology Solutions in a research note on Monday, November 17th. Sanford C. Bernstein boosted their price target on Figure Technology Solutions from $54.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, January 13th. Zacks Research upgraded Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. Finally, Piper Sandler lifted their target price on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th.

Insider Transactions at Figure Technology Solutions

In other news, Director Michael Scott Cagney sold 200,058 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Benjamin Tannenbaum sold 90,026 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $35.12, for a total transaction of $3,161,713.12. Following the completion of the sale, the chief executive officer directly owned 3,641,903 shares of the company’s stock, valued at $127,903,633.36. The trade was a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,344,073 shares of company stock valued at $123,816,526 over the last three months.

Institutional Trading of Figure Technology Solutions

A number of hedge funds have recently bought and sold shares of FIGR. Blue Trust Inc. purchased a new position in shares of Figure Technology Solutions in the 3rd quarter valued at $64,000. SBI Securities Co. Ltd. bought a new stake in Figure Technology Solutions during the third quarter valued at about $66,000. PNC Financial Services Group Inc. purchased a new position in Figure Technology Solutions in the third quarter valued at about $73,000. BNP Paribas Financial Markets purchased a new position in Figure Technology Solutions in the third quarter valued at about $102,000. Finally, Ameritas Advisory Services LLC bought a new position in Figure Technology Solutions in the third quarter worth about $200,000.

Figure Technology Solutions Stock Down 2.9%

Shares of Figure Technology Solutions stock opened at $71.78 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $44.49. Figure Technology Solutions has a 52 week low of $30.01 and a 52 week high of $78.00. The company has a market cap of $12.64 billion and a P/E ratio of 211.12.

Figure Technology Solutions (NASDAQ:FIGR) last issued its earnings results on Thursday, November 13th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.18. The company had revenue of $156.03 million for the quarter.

About Figure Technology Solutions

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.