The Goldman Sachs Group Issues Positive Forecast for Figure Technology Solutions (NASDAQ:FIGR) Stock Price

Figure Technology Solutions (NASDAQ:FIGR) had its price target hoisted by stock analysts at The Goldman Sachs Group from $51.00 to $58.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 4.19% from the stock’s current price.

Several other equities analysts have also recently issued reports on FIGR. Piper Sandler boosted their target price on Figure Technology Solutions from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Keefe, Bruyette & Woods upped their price target on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Sanford C. Bernstein lifted their price objective on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday. Bank of America upped their price objective on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price target on shares of Figure Technology Solutions in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.13.

Figure Technology Solutions Trading Up 6.6%

Shares of Figure Technology Solutions stock traded up $3.44 on Tuesday, hitting $55.67. The stock had a trading volume of 1,970,768 shares, compared to its average volume of 4,447,502. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. The firm has a market cap of $9.80 billion and a PE ratio of 163.74. The business has a 50 day moving average price of $41.03. Figure Technology Solutions has a 52-week low of $30.01 and a 52-week high of $59.40.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, November 13th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.18. The business had revenue of $156.03 million for the quarter.

Insiders Place Their Bets

In other Figure Technology Solutions news, Director David K. Chao bought 4,000 shares of the company’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $38.26 per share, with a total value of $153,040.00. Following the completion of the acquisition, the director owned 4,000 shares of the company’s stock, valued at approximately $153,040. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Scott Cagney sold 200,058 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,344,073 shares of company stock valued at $123,816,526.

Institutional Trading of Figure Technology Solutions

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. bought a new stake in Figure Technology Solutions during the third quarter worth approximately $64,000. SBI Securities Co. Ltd. purchased a new position in Figure Technology Solutions during the 3rd quarter valued at about $66,000. PNC Financial Services Group Inc. acquired a new position in Figure Technology Solutions in the 3rd quarter valued at approximately $73,000. BNP Paribas Financial Markets purchased a new stake in shares of Figure Technology Solutions during the third quarter worth $102,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at about $200,000.

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.