Figure Technology Solutions, Inc. (NASDAQ:FIGR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $55.75.

A number of equities analysts have issued reports on FIGR shares. Keefe, Bruyette & Woods upgraded 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 lowered their target price on Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Piper Sandler lifted their price target on Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Zacks Research cut Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Mizuho raised their target price on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, November 17th.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director Michael Scott Cagney sold 200,058 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Todd Stevens sold 26,057 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $32.00, for a total transaction of $833,824.00. Following the completion of the transaction, the insider owned 462,943 shares of the company’s stock, valued at approximately $14,814,176. The trade was a 5.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 426,173 shares of company stock worth $16,598,394 over the last quarter.

Hedge Funds Weigh In On Figure Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orland Properties Ltd purchased a new stake in Figure Technology Solutions during the third quarter valued at approximately $319,187,000. Vanguard Group Inc. bought a new position in Figure Technology Solutions during the third quarter valued at $91,751,000. Duquesne Family Office LLC bought a new position in Figure Technology Solutions during the third quarter valued at $76,989,000. Fred Alger Management LLC purchased a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $67,386,000. Finally, Pantera Capital Partners LP bought a new stake in shares of Figure Technology Solutions in the 3rd quarter worth about $56,114,000.

Figure Technology Solutions Stock Performance

Shares of FIGR opened at $32.64 on Thursday. Figure Technology Solutions has a fifty-two week low of $25.01 and a fifty-two week high of $78.00. The company has a market cap of $5.75 billion and a price-to-earnings ratio of 81.60. The business has a 50 day simple moving average of $46.33. 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 (NASDAQ:FIGR) last released its earnings results on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. The business’s revenue for the quarter was up 90.7% on a year-over-year basis.

Figure Technology Solutions announced that its board has approved a stock repurchase plan on Thursday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.3% of its shares through open market purchases. Shares buyback 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.