Sanford C. Bernstein Cuts Figure Technology Solutions (NASDAQ:FIGR) Price Target to $67.00

Figure Technology Solutions (NASDAQ:FIGR) had its target price lowered by Sanford C. Bernstein from $72.00 to $67.00 in a report released on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on FIGR. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Piper Sandler upped their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Mizuho dropped their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, March 26th. Finally, Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.75.

Figure Technology Solutions Stock Performance

Figure Technology Solutions stock opened at $32.89 on Monday. The firm has a market capitalization of $5.84 billion and a P/E ratio of 82.23. Figure Technology Solutions has a one year low of $25.01 and a one year high of $78.00. The firm has a fifty day simple moving average of $38.59. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19.

Figure Technology Solutions (NASDAQ:FIGR) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. The business’s revenue was up 90.7% compared to the same quarter last year.

Figure Technology Solutions declared that its board has initiated a share buyback plan on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider David Todd Stevens sold 49,708 shares of Figure Technology Solutions stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the completion of the sale, the insider directly owned 436,089 shares in the company, valued at $13,963,569.78. The trade was a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sachin Chand Jaitly sold 216,713 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total transaction of $7,290,225.32. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 292,478 shares of company stock worth $9,715,699 over the last ninety days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in shares of Figure Technology Solutions during the 4th quarter worth $25,000. Strs Ohio purchased a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $34,000. MetLife Investment Management LLC acquired a new position in Figure Technology Solutions in the fourth quarter valued at $35,000. Flagship Harbor Advisors LLC purchased a new position in Figure Technology Solutions during the fourth quarter worth about $40,000. Finally, Johnson Financial Group Inc. purchased a new position in Figure Technology Solutions during the fourth quarter worth about $41,000.

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.