Figure Technology Solutions, Inc. (NASDAQ:FIGR) Stock Has Average Target Price of $52.88 According to Brokerages

Figure Technology Solutions, Inc. (NASDAQ:FIGR – Get Free Report) has been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $52.88.

Several equities analysts recently issued reports on the stock. Zacks Research raised shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Bank of America upgraded Figure Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $49.00 in a research note on Wednesday, September 9th. Sanford C. Bernstein upped their price target on Figure Technology Solutions from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Figure Technology Solutions in a report on Thursday, August 20th.

Read Our Latest Analysis on Figure Technology Solutions

Insider Buying and Selling

In other news, insider David Stevens sold 47,650 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the sale, the insider directly owned 376,599 shares of the company’s stock, valued at $11,817,676.62. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief financial officer directly owned 483,651 shares in the company, valued at approximately $18,712,457.19. The trade was a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 67,650 shares of company stock worth $2,157,537 in the last 90 days. 26.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Figure Technology Solutions

A number of large investors have recently bought and sold shares of the business. WPG Advisers LLC lifted its holdings in Figure Technology Solutions by 71.1% in the 1st quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after purchasing an additional 388 shares in the last quarter. State of Wyoming raised its position in shares of Figure Technology Solutions by 14.8% in the first quarter. State of Wyoming now owns 3,864 shares of the company’s stock valued at $131,000 after buying an additional 498 shares during the last quarter. Arcus Capital Partners LLC raised its position in shares of Figure Technology Solutions by 7.9% in the first quarter. Arcus Capital Partners LLC now owns 7,400 shares of the company’s stock valued at $251,000 after buying an additional 541 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Figure Technology Solutions by 4.5% in the second quarter. HB Wealth Management LLC now owns 18,389 shares of the company’s stock worth $565,000 after buying an additional 788 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in Figure Technology Solutions by 16.0% during the second quarter. Concurrent Investment Advisors LLC now owns 6,988 shares of the company’s stock worth $215,000 after acquiring an additional 966 shares during the last quarter.

Figure Technology Solutions Price Performance

FIGR opened at $31.90 on Monday. Figure Technology Solutions has a 12-month low of $24.11 and a 12-month high of $78.00. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $32.97 and its 200-day simple moving average is $33.11. The company has a market capitalization of $5.92 billion and a price-to-earnings ratio of 34.30.

Figure Technology Solutions (NASDAQ:FIGR – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%.The firm had revenue of $218.45 million during the quarter. On average, equities research analysts anticipate that Figure Technology Solutions will post 1.2 earnings per share for the current fiscal year.

About Figure Technology Solutions

(Get Free Report)

Figure Technology Solutions, Inc is a financial technology company that develops and operates digital platforms for lending and other financial services. Its technology is designed to streamline the origination, underwriting, servicing and funding of loans through automated processes and data-driven tools.

The company’s offerings have included home equity financing, personal loans and related lending products, delivered directly to consumers and through institutional or other financial-services partners.

Further Reading

Analyst Recommendations for Figure Technology Solutions (NASDAQ:FIGR)

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