Figure Technology Solutions (NASDAQ:FIGR) Price Target Raised to $55.00 at Mizuho

Key Points

• Mizuho raised its price target on Figure Technology Solutions to $55 from $45 and kept an outperform rating, implying about 35.8% upside from the prior close.
• The broader analyst view remains positive overall, with the stock carrying a Moderate Buy consensus and an average price target of $53.63, though some firms have recently mixed in upgrades and target cuts.
• Figure reported Q1 EPS of $0.18, slightly ahead of estimates, and the company also authorized a $200 million share repurchase program, signaling confidence in its valuation.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) had its price target upped by stock analysts at Mizuho from $45.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price objective would suggest a potential upside of 35.77% from the stock's previous close.

Several other equities analysts also recently issued reports on FIGR. Texas Capital upgraded Figure Technology Solutions to a "strong-buy" rating in a research report on Thursday, January 29th. Zacks Research upgraded Figure Technology Solutions from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Bank of America cut their price objective on Figure Technology Solutions from $34.00 to $31.00 in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods upgraded Figure Technology Solutions from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, February 19th. Finally, Sanford C. Bernstein cut their price objective on Figure Technology Solutions from $72.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Figure Technology Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.63.

Figure Technology Solutions Price Performance

Shares of FIGR stock opened at $40.51 on Thursday. The stock's fifty day simple moving average is $34.41 and its 200 day simple moving average is $40.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a market cap of $7.36 billion and a price-to-earnings ratio of 101.28. Figure Technology Solutions has a one year low of $25.01 and a one year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $166.84 million during the quarter. On average, analysts expect that Figure Technology Solutions will post 0.93 earnings per share for the current fiscal year.

Figure Technology Solutions announced that its board has authorized a share repurchase program on Thursday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Figure Technology Solutions

In other news, CFO Minchung Kgil sold 8,000 shares of the business's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $32.25, for a total transaction of $258,000.00. Following the completion of the sale, the chief financial officer owned 548,098 shares in the company, valued at $17,676,160.50. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Benjamin Tannenbaum sold 56,825 shares of the business's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $31.97, for a total value of $1,816,695.25. Following the sale, the chief executive officer owned 3,193,641 shares of the company's stock, valued at approximately $102,100,702.77. The trade was a 1.75% decrease in their position. 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 a total of 620,352 shares of company stock valued at $20,812,730 over the last quarter. 26.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at about $25,000. Strs Ohio bought a new stake in Figure Technology Solutions in the fourth quarter valued at about $34,000. MetLife Investment Management LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at about $35,000. WPG Advisers LLC increased its holdings in Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company's stock valued at $32,000 after purchasing an additional 388 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in Figure Technology Solutions in the fourth quarter valued at about $40,000.

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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