Figure Technology Solutions (NASDAQ:FIGR) Price Target Lowered to $45.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target on Figure Technology Solutions to $45 from $55, while keeping an outperform rating. The new target still implies about 44% upside from the current share price.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus rating and a consensus price target of $51.50. Recent updates included rating upgrades from Zacks Research and Weiss Ratings, alongside other firms maintaining buy/outperform views.
• Figure Technology Solutions recently reported better-than-expected quarterly earnings, posting $0.18 EPS versus the $0.17 estimate on revenue of $166.84 million. The company also saw notable insider selling over the past 90 days, totaling 479,337 shares.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $55.00 to $45.00 in a report released on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 44.05% from the stock's current price.

A number of other analysts also recently issued reports on the company. Zacks Research raised Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 14th. Weiss Ratings raised Figure Technology Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Sanford C. Bernstein decreased their target price on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, March 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 price target on shares of Figure Technology Solutions in a report on Wednesday, July 8th. Finally, Mizuho raised their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.50.

Figure Technology Solutions Price Performance

Shares of FIGR opened at $31.24 on Monday. Figure Technology Solutions has a twelve month low of $25.01 and a twelve month high of $78.00. The firm's fifty day simple moving average is $32.82 and its 200-day simple moving average is $38.32. The firm has a market capitalization of $5.71 billion and a price-to-earnings ratio of 53.97. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.20.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. The firm had revenue of $166.84 million for the quarter. Equities analysts forecast that Figure Technology Solutions will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling at Figure Technology Solutions

In related news, Director Michael Scott Cagney sold 67,840 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $35.19, for a total transaction of $2,387,289.60. Following the sale, the director owned 67,840 shares of the company's stock, valued at approximately $2,387,289.60. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Todd Stevens sold 47,064 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $42.35, for a total transaction of $1,993,160.40. Following the transaction, the insider owned 406,051 shares of the company's stock, valued at $17,196,259.85. This trade represents a 10.39% 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. Over the last 90 days, insiders sold 479,337 shares of company stock worth $16,910,863. Company insiders own 26.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Pictet Asset Management Holding SA lifted its stake in shares of Figure Technology Solutions by 69.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 67,893 shares of the company's stock valued at $2,773,000 after buying an additional 27,893 shares during the period. UBS Group AG lifted its stake in shares of Figure Technology Solutions by 322.9% during the 4th quarter. UBS Group AG now owns 885,977 shares of the company's stock worth $36,183,000 after purchasing an additional 676,470 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Figure Technology Solutions in the fourth quarter valued at $5,041,000. Vanguard Group Inc. increased its stake in Figure Technology Solutions by 17.9% in the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company's stock valued at $121,493,000 after purchasing an additional 452,136 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Figure Technology Solutions during the fourth quarter worth about $1,416,000.

Figure Technology Solutions Company Profile

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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