Figure Technology Solutions (NASDAQ:FIGR) Price Target Raised to $70.00

Figure Technology Solutions (NASDAQ:FIGR) had its price objective increased by analysts at Sanford C. Bernstein from $67.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target suggests a potential upside of 145.57% from the company’s current price.

Other equities analysts have also issued reports about the company. Piper Sandler reduced their price objective on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Zacks Research raised shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Keefe, Bruyette & Woods cut their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.62.

Figure Technology Solutions Price Performance

Figure Technology Solutions stock traded down $0.23 during trading hours on Thursday, hitting $28.50. The stock had a trading volume of 1,021,045 shares, compared to its average volume of 4,567,773. The stock’s fifty day moving average is $29.63 and its two-hundred day moving average is $35.62. The stock has a market capitalization of $5.21 billion and a price-to-earnings ratio of 49.12. Figure Technology Solutions has a 1-year low of $24.11 and a 1-year high of $78.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $166.84 million for the quarter. As a group, analysts predict that Figure Technology Solutions will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Figure Technology Solutions

In other news, insider David Todd Stevens sold 47,064 shares of Figure Technology Solutions stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the sale, the insider directly owned 406,051 shares of the company’s stock, valued at approximately $17,196,259.85. The trade was a 10.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $30.06, for a total value of $274,057.02. Following the completion of the transaction, the chief financial officer owned 507,651 shares in the company, valued at approximately $15,259,989.06. This trade represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 155,463 shares of company stock worth $5,926,353 over the last three months. Insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Figure Technology Solutions

A number of institutional investors have recently made changes to their positions in the business. Duquesne Family Office LLC bought a new stake in shares of Figure Technology Solutions in the third quarter worth $76,989,000. Fred Alger Management LLC bought a new position in Figure Technology Solutions during the 4th quarter valued at $67,386,000. Pantera Capital Partners LP acquired a new position in Figure Technology Solutions during the 3rd quarter worth $56,114,000. Balyasny Asset Management L.P. bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth about $36,087,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at about $34,626,000.

Figure Technology Solutions Company Profile

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.