Needham & Company LLC Has Lowered Expectations for Figure Technology Solutions (NASDAQ:FIGR) Stock Price

Figure Technology Solutions (NASDAQ:FIGR) had its target price reduced by Needham & Company LLC from $55.00 to $50.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC‘s price target would indicate a potential upside of 98.26% from the stock’s current price.

FIGR has been the subject of a number of other reports. Sanford C. Bernstein lifted their price objective on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings lowered shares of Figure Technology Solutions from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Freedom Capital raised Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, October 15th. The Goldman Sachs Group set a $41.00 price target on Figure Technology Solutions in a research report on Wednesday, October 7th. Finally, Freedom Broker raised Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and an average price target of $51.71.

Figure Technology Solutions Price Performance

FIGR traded down $0.45 on Friday, reaching $25.22. The company had a trading volume of 3,826,358 shares, compared to its average volume of 5,504,221. The business has a 50 day simple moving average of $28.34 and a 200 day simple moving average of $32.44. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 0.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.86 and a current ratio of 1.86. Figure Technology Solutions has a 52-week low of $19.54 and a 52-week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings results on Thursday, November 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Figure Technology Solutions had a net margin of 28.21% and a return on equity of 18.38%. The business had revenue of $283.35 million during the quarter. During the same period in the prior year, the firm earned $0.34 EPS. Figure Technology Solutions’s quarterly revenue was up 84.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Figure Technology Solutions will post 1.18 EPS for the current year.

Insider Activity

In other news, CFO Minchung Kgil sold 8,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $38.69, for a total value of $309,520.00. Following the completion of the sale, the chief financial officer owned 483,651 shares of the company’s stock, valued at approximately $18,712,457.19. This represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 26.60% of the company’s stock.

Institutional Trading of Figure Technology Solutions

Several hedge funds have recently added to or reduced their stakes in FIGR. Marshall Wace LLP lifted its stake in shares of Figure Technology Solutions by 53.2% in the 3rd quarter. Marshall Wace LLP now owns 1,731,896 shares of the company’s stock valued at $49,965,000 after acquiring an additional 601,057 shares during the last quarter. Empowered Funds LLC purchased a new stake in Figure Technology Solutions during the 3rd quarter valued at about $4,911,000. State Board of Administration of Florida Retirement System increased its stake in Figure Technology Solutions by 4.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 66,111 shares of the company’s stock worth $1,907,000 after purchasing an additional 2,520 shares during the period. Whittier Trust Co. lifted its position in Figure Technology Solutions by 0.7% in the third quarter. Whittier Trust Co. now owns 71,716 shares of the company’s stock valued at $2,047,000 after purchasing an additional 477 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in Figure Technology Solutions in the third quarter valued at approximately $53,000.

More Figure Technology Solutions News

Investors following FIGR have been watching these news items:

• Positive Sentiment: Marketplace volume surged 135% to $5.8 billion, with Kiavi contributing to growth. Management is targeting broader lending distribution and capital-light growth in 2027. Figure Q3 call highlights marketplace growth and Kiavi plans
• Neutral Sentiment: Figure entered a $465 million senior secured revolving credit facility with JPMorgan, adding financing flexibility, though the facility is secured. Figure enters into a $465 million revolving credit facility
• Negative Sentiment: Needham lowered its price target to $50 from $55, though it maintained a Buy rating. The reduced target may have tempered the reaction to the results. Needham analyst recommendations

About Figure Technology Solutions

Figure Technology Solutions is a financial technology company that develops blockchain-based platforms for lending and capital markets. Its technology is designed to digitize and streamline financial transactions, including loan origination and the trading of financial assets. The company’s offerings include home equity financing and technology for financial institutions and other lending partners. Figure also operates digital marketplaces and provides services supporting the issuance and transfer of assets on the Provenance Blockchain.