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

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $54.3750.

A number of equities analysts have weighed in on FIGR shares. The Goldman Sachs Group reduced their price objective on Figure Technology Solutions from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Weiss Ratings downgraded Figure Technology Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, February 11th. Mizuho dropped their price objective on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday. Piper Sandler lifted their target price on shares of Figure Technology Solutions from $55.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods upgraded shares of Figure Technology Solutions from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 19th.

Figure Technology Solutions Stock Performance

Shares of NASDAQ:FIGR opened at $31.00 on Monday. Figure Technology Solutions has a twelve month low of $25.01 and a twelve month high of $78.00. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.50 billion and a P/E ratio of 77.50. The stock has a 50 day simple moving average of $40.93.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The firm had revenue of $157.63 million for the quarter, compared to analyst estimates of $158.00 million. The company’s quarterly revenue was up 90.7% compared to the same quarter last year.

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

Insider Buying and Selling

In other news, insider David Todd Stevens sold 49,708 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $32.02, for a total value of $1,591,650.16. Following the completion of the sale, the insider directly owned 436,089 shares in the company, valued at $13,963,569.78. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sachin Chand Jaitly sold 216,713 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $33.64, for a total transaction of $7,290,225.32. The disclosure for this sale is available in the SEC filing. Insiders have sold 292,478 shares of company stock worth $9,715,699 in the last quarter.

Institutional Investors Weigh In On Figure Technology Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in FIGR. Federated Hermes Inc. acquired a new stake in shares of Figure Technology Solutions during the 3rd quarter worth about $8,183,000. Lisanti Capital Growth LLC purchased a new position in Figure Technology Solutions during the third quarter worth about $3,780,000. JPMorgan Chase & Co. purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $15,529,000. BIT Capital GmbH acquired a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $7,718,000. Finally, Fidelity National Financial Inc. acquired a new stake in Figure Technology Solutions in the 3rd quarter valued at approximately $9,092,000.

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.