Figure Technology Solutions (NASDAQ:FIGR) Price Target Cut to $45.00 by Analysts at Mizuho

Figure Technology Solutions (NASDAQ:FIGR) had its price target trimmed by Mizuho from $55.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. Piper Sandler raised their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Bank of America downgraded Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a research note on Tuesday, February 3rd. Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Weiss Ratings cut Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 11th. Finally, Needham & Company LLC reduced their target price on shares of Figure Technology Solutions from $71.00 to $55.00 and set a “buy” rating for the company in a report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Figure Technology Solutions currently has an average rating of “Moderate Buy” and an average target price of $54.38.

Figure Technology Solutions Stock Up 2.3%

Shares of Figure Technology Solutions stock opened at $31.94 on Thursday. The firm has a fifty day simple moving average of $41.79. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.19. The company has a market cap of $5.67 billion and a P/E ratio of 79.85. Figure Technology Solutions has a 52 week low of $25.01 and a 52 week high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). The company had revenue of $157.63 million for the quarter, compared to the consensus estimate of $158.00 million. Figure Technology Solutions’s revenue for the quarter was up 90.7% on a year-over-year basis.

Figure Technology Solutions declared that its Board of Directors has authorized a stock buyback program on Thursday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Figure Technology Solutions news, insider David Todd Stevens sold 49,708 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $32.02, for a total transaction of $1,591,650.16. Following the transaction, the insider directly owned 436,089 shares of the company’s stock, valued at $13,963,569.78. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sachin Chand Jaitly sold 216,713 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 292,478 shares of company stock valued at $9,715,699 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FIGR. Voya Investment Management LLC purchased a new position in Figure Technology Solutions during the third quarter worth approximately $721,000. Exchange Traded Concepts LLC acquired a new stake in shares of Figure Technology Solutions during the third quarter worth about $5,963,000. Blue Trust Inc. purchased a new position in Figure Technology Solutions in the third quarter valued at $64,000. Hennessy Advisors Inc. purchased a new stake in shares of Figure Technology Solutions during the third quarter worth approximately $255,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $1,412,000.

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.