Figure Technology Solutions (NASDAQ:FIGR) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Figure Technology Solutions (NASDAQ:FIGR) had its target price hoisted by analysts at Sanford C. Bernstein from $67.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 144.58% from the stock’s previous close.

Several other equities research analysts have also commented on FIGR. Piper Sandler dropped their price target on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their target price on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Wall Street Zen downgraded shares of Figure Technology Solutions from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. 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. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Figure Technology Solutions has a consensus rating of “Moderate Buy” and an average target price of $50.62.

Figure Technology Solutions Price Performance

FIGR stock opened at $28.62 on Thursday. The stock’s 50 day moving average price is $29.37 and its 200 day moving average price is $35.25. The firm has a market cap of $5.23 billion and a P/E ratio of 49.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.90 and a current ratio of 1.90. Figure Technology Solutions has a 1 year low of $24.11 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. On average, sell-side analysts expect that Figure Technology Solutions will post 0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 2,031 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $36.03, for a total transaction of $73,176.93. Following the sale, the chief executive officer directly owned 3,193,641 shares of the company’s stock, valued at approximately $115,066,885.23. This represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 35,190 shares of Figure Technology Solutions stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $38.20, for a total transaction of $1,344,258.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 155,463 shares of company stock worth $5,926,353. 26.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Figure Technology Solutions

Several hedge funds have recently modified their holdings of FIGR. WPG Advisers LLC raised its holdings in shares of Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after acquiring an additional 388 shares during the period. State of Wyoming lifted its position in shares of Figure Technology Solutions by 14.8% in the 1st quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after acquiring an additional 498 shares in the last quarter. Arcus Capital Partners LLC boosted its stake in Figure Technology Solutions by 7.9% in the 1st quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock worth $251,000 after purchasing an additional 541 shares during the period. Global Retirement Partners LLC purchased a new position in Figure Technology Solutions during the 4th quarter worth approximately $25,000. Finally, Wells Fargo & Company MN raised its stake in Figure Technology Solutions by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock valued at $753,000 after purchasing an additional 616 shares during the period.

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.