Figure Technology Solutions (NASDAQ:FIGR) Price Target Lowered to $45.00 at Mizuho

Figure Technology Solutions (NASDAQ:FIGR) had its price target lowered by analysts at Mizuho from $55.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 38.77% from the stock’s current price.

FIGR has been the topic of a number of other reports. Weiss Ratings lowered Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Bank of America lowered 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. Finally, The Goldman Sachs Group reduced their target price on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.38.

Figure Technology Solutions Stock Up 3.9%

FIGR opened at $32.43 on Thursday. The firm’s 50 day moving average price is $42.44. Figure Technology Solutions has a 52-week low of $25.01 and a 52-week high of $78.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.20. The stock has a market capitalization of $5.75 billion and a price-to-earnings ratio of 80.67.

Figure Technology Solutions (NASDAQ:FIGR) last released 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 company had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. The firm’s revenue for the quarter was up 90.7% compared to the same quarter last year.

Figure Technology Solutions announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Sachin Chand Jaitly sold 216,713 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $33.64, for a total transaction of $7,290,225.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Todd Stevens sold 49,708 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the sale, the insider directly owned 436,089 shares in the company, valued at $13,963,569.78. This trade represents a 10.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 292,478 shares of company stock valued at $9,715,699.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in shares of Figure Technology Solutions during the fourth quarter valued at approximately $25,000. Wells Fargo & Company MN lifted its holdings in shares of Figure Technology Solutions by 3.5% in the 4th quarter. Wells Fargo & Company MN now owns 18,429 shares of the company’s stock worth $753,000 after purchasing an additional 616 shares during the last quarter. Strs Ohio acquired a new position in Figure Technology Solutions during the 4th quarter valued at approximately $34,000. MetLife Investment Management LLC bought a new position in Figure Technology Solutions during the 4th quarter worth $35,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Figure Technology Solutions in the fourth quarter worth $40,000.

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.