The Goldman Sachs Group Has Lowered Expectations for Figure Technology Solutions (NASDAQ:FIGR) Stock Price

Figure Technology Solutions (NASDAQ:FIGR) had its price target dropped by stock analysts at The Goldman Sachs Group from $49.00 to $44.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 48.05% from the company’s previous close.

Several other research firms also recently weighed in on FIGR. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods raised shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Needham & Company LLC cut their price target on Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research note on Friday. 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 report on Tuesday, February 3rd. Finally, Sanford C. Bernstein upped their price target on Figure Technology Solutions from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.75.

Figure Technology Solutions Trading Up 17.6%

FIGR stock traded up $4.44 during trading on Monday, reaching $29.72. 5,032,670 shares of the stock were exchanged, compared to its average volume of 5,129,896. The business’s 50 day simple moving average is $48.01. The firm has a market capitalization of $5.23 billion and a price-to-earnings ratio of 87.41. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.17. Figure Technology Solutions has a twelve month low of $25.01 and a twelve month high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $157.63 million during the quarter, compared to analysts’ expectations of $158.00 million. The firm’s quarterly revenue was up 90.7% on a year-over-year basis.

Figure Technology Solutions announced that its board has approved a share repurchase program on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director June Ou sold 200,058 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total transaction of $7,882,285.20. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction of $7,882,285.20. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 749,193 shares of company stock valued at $27,947,547.

Hedge Funds Weigh In On Figure Technology Solutions

A number of large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at $25,000. Strs Ohio bought a new position in Figure Technology Solutions in the 4th quarter worth about $34,000. MetLife Investment Management LLC purchased a new position in Figure Technology Solutions during the 4th quarter valued at about $35,000. Flagship Harbor Advisors LLC bought a new stake in shares of Figure Technology Solutions during the fourth quarter valued at about $40,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Figure Technology Solutions in 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.