Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $53.6250.

Several analysts recently weighed in on FIGR shares. Weiss Ratings downgraded Figure Technology Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, April 24th. Mizuho upped their target price on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. The Goldman Sachs Group lowered their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Bank of America lowered their target price on Figure Technology Solutions from $34.00 to $31.00 in a report on Thursday, April 2nd. Finally, Zacks Research raised Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th.

Figure Technology Solutions Price Performance

Shares of FIGR stock opened at $38.58 on Tuesday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. Figure Technology Solutions has a twelve month low of $25.01 and a twelve month high of $78.00. The company has a market cap of $7.01 billion and a P/E ratio of 96.45. The business has a fifty day simple moving average of $35.11 and a 200 day simple moving average of $40.32.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $166.84 million for the quarter. On average, sell-side analysts forecast that Figure Technology Solutions will post 0.94 EPS for the current fiscal year.

Figure Technology Solutions declared that its Board of Directors has initiated a share repurchase program on Thursday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Figure Technology Solutions news, Director Sachin Chand Jaitly sold 216,713 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total value of $7,290,225.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director June Ou sold 67,840 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 737,796 shares of company stock worth $25,494,406. Company insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Figure Technology Solutions

Several institutional investors and hedge funds have recently made changes to their positions in FIGR. Orland Properties Ltd acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $319,187,000. Vanguard Group Inc. acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $91,751,000. Duquesne Family Office LLC acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $76,989,000. Fred Alger Management LLC acquired a new stake in shares of Figure Technology Solutions in the fourth quarter valued at about $67,386,000. Finally, Pantera Capital Partners LP acquired a new stake in shares of Figure Technology Solutions in the third quarter valued at about $56,114,000.

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.