Figure Technology Solutions, Inc. (NASDAQ:FIGR) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Six analysts rate Figure Technology Solutions a buy and two rate it a strong buy, versus one hold and one sell. The average 12-month price target is $53.57.
• Recent financial results exceeded expectations: Figure reported quarterly EPS of $0.35, beating the $0.24 consensus estimate, on revenue of $218.45 million. Analysts expect full-year EPS of $1.18.
• The stock remains well below its annual high: FIGR opened at $27.67, compared with a 52-week range of $24.10 to $78.00, while insiders have sold 63,650 shares worth approximately $2.04 million over the past three months.

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) has earned an average rating of "Moderate Buy" from the ten research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $53.57.

A number of equities analysts have commented on FIGR shares. Zacks Research raised Figure Technology Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Needham & Company LLC reissued a "buy" rating on shares of Figure Technology Solutions in a report on Wednesday, October 7th. Weiss Ratings lowered shares of Figure Technology Solutions from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, September 11th. Sanford C. Bernstein raised their price objective on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group set a $41.00 target price on shares of Figure Technology Solutions in a research note on Wednesday, October 7th.

Figure Technology Solutions Stock Performance

NASDAQ:FIGR opened at $27.67 on Friday. Figure Technology Solutions has a 1 year low of $24.10 and a 1 year high of $78.00. The firm has a 50 day moving average of $32.96 and a 200-day moving average of $32.50. 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 stock has a market capitalization of $5.14 billion and a P/E ratio of 29.75.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $218.45 million for the quarter. As a group, sell-side analysts anticipate that Figure Technology Solutions will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David Stevens sold 47,650 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $31.38, for a total value of $1,495,257.00. Following the completion of the sale, the insider owned 376,599 shares of the company's stock, valued at $11,817,676.62. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 8,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.69, for a total transaction of $309,520.00. Following the completion of the transaction, the chief financial officer owned 483,651 shares of the company's stock, valued at $18,712,457.19. This trade represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 63,650 shares of company stock valued at $2,037,417. 26.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Figure Technology Solutions

Several large investors have recently made changes to their positions in the company. WPG Advisers LLC increased its position in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock worth $32,000 after purchasing an additional 388 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Figure Technology Solutions during the 2nd quarter worth about $47,000. GAMMA Investing LLC raised its holdings in Figure Technology Solutions by 176.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,690 shares of the company's stock worth $49,000 after purchasing an additional 1,079 shares during the last quarter. State of Wyoming lifted its position in Figure Technology Solutions by 14.8% during the 1st quarter. State of Wyoming now owns 3,864 shares of the company's stock valued at $131,000 after purchasing an additional 498 shares during the period. Finally, Fifth Third Bancorp acquired a new position in Figure Technology Solutions during the 1st quarter valued at about $133,000.

About Figure Technology Solutions

Figure Technology Solutions, Inc is a financial technology company that develops blockchain- and artificial intelligence-enabled solutions for lending and financial services. The company's technology is designed to support the origination, servicing, financing and trading of financial assets through more efficient digital processes.

Figure's business activities have included home equity lending, personal lending, mortgage-related services and financial asset marketplaces. Its platform has also been used to facilitate the issuance and transfer of loans and other financial products, with blockchain technology intended to improve transparency, settlement and recordkeeping.

The company was founded by Mike Cagney, who previously co-founded Social Finance, Inc (SoFi), and Figure has operated primarily in the United States.

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