Figure Technology Solutions, Inc. (NASDAQ:FIGR) Receives $55.13 Average Price Target from Brokerages

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $57.6250.

FIGR has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Figure Technology Solutions in a report on Monday, November 17th. Jefferies Financial Group initiated coverage on Figure Technology Solutions in a report on Monday, October 6th. They issued a “hold” rating and a $40.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on Figure Technology Solutions from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Piper Sandler increased their price objective on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, The Goldman Sachs Group lifted their target price on Figure Technology Solutions from $51.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, January 13th.

Insider Buying and Selling at Figure Technology Solutions

In other Figure Technology Solutions news, CEO Michael Benjamin Tannenbaum sold 90,026 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $35.12, for a total value of $3,161,713.12. Following the sale, the chief executive officer directly owned 3,641,903 shares in the company, valued at $127,903,633.36. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David K. Chao purchased 4,000 shares of the business’s stock in a transaction on Friday, December 5th. The stock was purchased 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 in the company, valued at approximately $153,040. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 3,344,073 shares of company stock worth $123,816,526 in the last ninety days.

Hedge Funds Weigh In On Figure Technology Solutions

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

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock opened at $73.91 on Wednesday. The company has a market cap of $13.02 billion and a PE ratio of 217.38. Figure Technology Solutions has a 52-week low of $30.01 and a 52-week high of $76.57. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $43.06.

Figure Technology Solutions (NASDAQ:FIGR) last posted 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 during the quarter.

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.