Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $53.75 Consensus Price Target from Brokerages

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $53.75.

FIGR has been the topic of several research analyst reports. 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 increased their price target on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Needham & Company LLC lowered their price objective on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Zacks Research upgraded shares of Figure Technology Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings downgraded shares of Figure Technology Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday.

Insider Transactions at Figure Technology Solutions

In related news, Director Sachin Chand Jaitly sold 216,713 shares of the business’s stock in a transaction that occurred on 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 available at this hyperlink. Also, Director Michael Scott Cagney sold 67,840 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. Following the completion of the transaction, the director owned 67,840 shares in the company, valued at $2,387,289.60. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 428,158 shares of company stock valued at $14,490,279.

Institutional Trading of Figure Technology Solutions

Several large investors have recently added to or reduced their stakes in FIGR. Global Retirement Partners LLC acquired a new position in shares of Figure Technology Solutions during the 4th quarter worth $25,000. Strs Ohio acquired a new stake in shares of Figure Technology Solutions in the 4th quarter valued at $34,000. MetLife Investment Management LLC acquired a new stake in shares of Figure Technology Solutions in the 4th quarter valued at $35,000. Flagship Harbor Advisors LLC bought a new stake in Figure Technology Solutions in the fourth quarter worth $40,000. Finally, Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions during the fourth quarter worth $41,000.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $32.27 on Friday. Figure Technology Solutions has a 12 month low of $25.01 and a 12 month high of $78.00. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. The stock has a market cap of $5.72 billion and a PE ratio of 80.66. The business has a fifty day simple moving average of $33.38 and a 200-day simple moving average of $40.71.

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 the consensus estimate of $0.13 by ($0.07). The company had revenue of $157.63 million during the quarter, compared to analysts’ expectations of $158.00 million. The company’s revenue for the quarter was up 90.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Figure Technology Solutions will post 0.93 EPS for the current fiscal year.

Figure Technology Solutions declared that its Board of Directors has approved a share repurchase plan on Thursday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.