Brokerages Set Figure Technology Solutions, Inc. (NASDAQ:FIGR) Target Price at $55.75

by · The Markets Daily

Shares of Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $55.75.

FIGR has been the topic of a number of research analyst reports. Needham & Company LLC cut their price objective on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Keefe, Bruyette & Woods raised Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Weiss Ratings lowered Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 11th. Zacks Research cut Figure Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Texas Capital upgraded Figure Technology Solutions to a “strong-buy” rating in a report on Thursday, January 29th.

Check Out Our Latest Analysis on FIGR

Insider Buying and Selling 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 on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director June Ou sold 200,058 shares of Figure Technology Solutions stock in a transaction dated Wednesday, December 10th. The shares were 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. In the last 90 days, insiders sold 426,173 shares of company stock worth $16,598,394.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in shares of Figure Technology Solutions in the third quarter worth approximately $8,183,000. Lisanti Capital Growth LLC purchased a new position in shares of Figure Technology Solutions during the third quarter valued at approximately $3,780,000. BIT Capital GmbH purchased a new position in shares of Figure Technology Solutions during the third quarter valued at approximately $7,718,000. JPMorgan Chase & Co. bought a new stake in Figure Technology Solutions during the third quarter worth $15,529,000. Finally, Fidelity National Financial Inc. purchased a new stake in Figure Technology Solutions in the 3rd quarter valued at $9,092,000.

Figure Technology Solutions Trading Down 3.2%

FIGR stock opened at $30.48 on Thursday. The company has a market cap of $5.37 billion and a price-to-earnings ratio of 76.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26. The stock has a 50-day simple moving average of $46.53. Figure Technology Solutions has a 1-year low of $25.01 and a 1-year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last announced 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 during 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 initiated a stock repurchase plan on Thursday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

About Figure Technology Solutions

(Get Free Report)

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.

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