Figure Technology Solutions (NASDAQ:FIGR) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Figure Technology Solutions to “strong buy” from “hold.” MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $50.62.
• Figure reported quarterly EPS of $0.35, exceeding the $0.24 analyst consensus, on revenue of $218.45 million. The company posted a 33.45% net margin and 19.58% return on equity.
• Shares opened at $35.52, with a market capitalization of $6.49 billion and a one-year trading range of $24.11 to $78.00. Insiders sold 72,767 shares worth about $2.23 million during the past quarter, while several institutional investors established new positions.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on FIGR. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 price target on shares of Figure Technology Solutions in a research report on Friday, August 14th. Piper Sandler decreased their target price on shares of Figure Technology Solutions from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Sanford C. Bernstein raised their target price on shares of Figure Technology Solutions from $67.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Mizuho lifted their price target on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded Figure Technology Solutions from a "sell" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.62.

Figure Technology Solutions Stock Performance

Shares of NASDAQ FIGR opened at $35.52 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $6.49 billion and a price-to-earnings ratio of 38.19. The stock's fifty day moving average price is $29.56 and its two-hundred day moving average price is $33.29. Figure Technology Solutions has a one year low of $24.11 and a one year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a return on equity of 19.58% and a net margin of 33.45%. On average, equities analysts forecast that Figure Technology Solutions will post 1.18 EPS for the current year.

Insider Transactions at Figure Technology Solutions

In other news, insider David Todd Stevens sold 47,650 shares of the business'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 transaction, the insider directly owned 376,599 shares in the company, valued at approximately $11,817,676.62. The trade was a 11.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $30.03, for a total transaction of $120,120.00. Following the sale, the chief financial officer directly owned 491,651 shares of the company's stock, valued at approximately $14,764,279.53. This trade represents a 0.81% decrease in their position. 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 72,767 shares of company stock worth $2,232,634 over the last quarter. Corporate insiders own 26.60% of the company's stock.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Figure Technology Solutions in the 2nd quarter valued at $1,238,000. Ninepoint Partners LP bought a new stake in Figure Technology Solutions during the 2nd quarter worth $746,000. Bank of New York Mellon Corp bought a new position in Figure Technology Solutions in the 2nd quarter valued at approximately $10,875,000. Handelsbanken Fonder AB acquired a new position in shares of Figure Technology Solutions during the second quarter worth $1,370,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in Figure Technology Solutions during the 1st quarter worth about $511,000.

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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