Figure Technology Solutions, Inc. (NASDAQ:FIGR) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts give Figure Technology Solutions a consensus "Moderate Buy" rating from 11 analysts, with an average 12‑month target price of $53.75.
• There has been notable insider selling: directors Michael Scott Cagney and June Ou each sold 67,840 shares at $35.19 under Rule 10b5‑1, and insiders have sold 428,158 shares worth $14.49M over the last 90 days.
• The board authorized a $200 million stock buyback (up to 3.3% of shares), while the company reported an EPS miss of $0.06 versus $0.13 expected and revenue of $157.6M (roughly in line, up 90.7% YoY).

Figure Technology Solutions, Inc. (NASDAQ:FIGR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $53.75.

A number of equities analysts have issued reports on the company. Weiss Ratings cut Figure Technology Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, February 19th. The Goldman Sachs Group decreased their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Texas Capital upgraded Figure Technology Solutions to a "strong-buy" rating in a report on Thursday, January 29th. Finally, Bank of America cut Figure Technology Solutions from a "neutral" rating to an "underperform" rating and set a $42.00 price objective for the company. in a report on Tuesday, February 3rd.

Insider Buying and Selling

In other news, Director Michael Scott Cagney sold 67,840 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $35.19, for a total value of $2,387,289.60. Following the completion of the transaction, the director owned 67,840 shares in the company, valued at $2,387,289.60. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director June Ou sold 67,840 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total value of $2,387,289.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 428,158 shares of company stock worth $14,490,279 over the last 90 days.

Hedge Funds Weigh In On Figure Technology Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of FIGR. Orland Properties Ltd bought a new position in Figure Technology Solutions during the third quarter worth about $319,187,000. Vanguard Group Inc. bought a new position in Figure Technology Solutions during the third quarter worth about $91,751,000. Duquesne Family Office LLC bought a new position in Figure Technology Solutions during the third quarter worth about $76,989,000. Fred Alger Management LLC bought a new position in Figure Technology Solutions during the fourth quarter worth about $67,386,000. Finally, Pantera Capital Partners LP bought a new position in Figure Technology Solutions during the third quarter worth about $56,114,000.

Figure Technology Solutions Price Performance

FIGR stock opened at $32.22 on Friday. The stock has a 50-day moving average price of $33.44 and a two-hundred day moving average price of $40.87. The stock has a market cap of $5.72 billion and a PE ratio of 80.55. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. 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 released its earnings results on Thursday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). The business had revenue of $157.63 million during the quarter, compared to analysts' expectations of $158.00 million. Figure Technology Solutions's revenue was up 90.7% on a year-over-year basis. Equities analysts forecast that Figure Technology Solutions will post 0.93 EPS for the current fiscal year.

Figure Technology Solutions declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

About Figure Technology Solutions

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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