Figure Technology Solutions’ (FIGR) “Buy” Rating Reaffirmed at Needham & Company LLC

Figure Technology Solutions (NASDAQ:FIGR)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $71.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 65.31% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Bank of America lowered shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a report on Tuesday. Mizuho raised their target price on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Piper Sandler upped their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Figure Technology Solutions in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Figure Technology Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Figure Technology Solutions Price Performance

Shares of FIGR opened at $42.95 on Thursday. The company’s 50 day moving average price is $49.34. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. Figure Technology Solutions has a one year low of $30.01 and a one year high of $78.00. The firm has a market capitalization of $7.56 billion and a P/E ratio of 126.32.

Figure Technology Solutions (NASDAQ:FIGR) last released 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 business had revenue of $156.03 million during the quarter.

Insider Buying and Selling at Figure Technology Solutions

In related news, Director Michael Scott Cagney sold 500,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $36.22, for a total value of $18,110,000.00. Following the sale, the director owned 6,378,993 shares of the company’s stock, valued at $231,047,126.46. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director June Ou sold 500,000 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $36.22, for a total value of $18,110,000.00. Following the completion of the sale, the director owned 6,378,993 shares of the company’s stock, valued at $231,047,126.46. The trade was a 7.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,344,073 shares of company stock worth $123,816,526 in the last three months.

Hedge Funds Weigh In On Figure Technology Solutions

A number of hedge funds have recently made changes to their positions in FIGR. Strs Ohio bought a new stake in Figure Technology Solutions in the fourth quarter valued at approximately $34,000. Flagship Harbor Advisors LLC bought a new position in Figure Technology Solutions during the 4th quarter worth approximately $40,000. Blue Trust Inc. acquired a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. bought a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at $66,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Figure Technology Solutions during the third quarter worth $73,000.

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.