Figure Technology Solutions (NASDAQ:FIGR) Given New $72.00 Price Target at Sanford C. Bernstein

Figure Technology Solutions (NASDAQ:FIGR) had its target price raised by analysts at Sanford C. Bernstein from $54.00 to $72.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 29.33% from the stock’s previous close.

Several other analysts have also commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Jefferies Financial Group started coverage on Figure Technology Solutions in a research report on Monday, October 6th. They set a “hold” rating and a $40.00 price objective for the company. Bank of America upped their price target on Figure Technology Solutions from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Needham & Company LLC restated a “buy” rating and set a $51.00 price objective on shares of Figure Technology Solutions in a research note on Monday, November 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Figure Technology Solutions in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.13.

Figure Technology Solutions Stock Performance

Shares of Figure Technology Solutions stock traded up $3.44 during midday trading on Tuesday, reaching $55.67. 1,970,768 shares of the company’s stock traded hands, compared to its average volume of 4,447,502. The company’s 50 day moving average is $41.03. Figure Technology Solutions has a 12 month low of $30.01 and a 12 month high of $59.40. The company has a market capitalization of $9.80 billion and a P/E ratio of 163.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.26.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.16 by $0.18. The company had revenue of $156.03 million during the quarter.

Insider Activity

In other Figure Technology Solutions news, Director David K. Chao acquired 4,000 shares of the stock in a transaction dated Friday, December 5th. The shares were acquired at an average cost of $38.26 per share, for a total transaction of $153,040.00. Following the completion of the transaction, the director directly owned 4,000 shares of the company’s stock, valued at approximately $153,040. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director June Ou sold 200,058 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $39.40, for a total value of $7,882,285.20. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,344,073 shares of company stock worth $123,816,526.

Institutional Investors Weigh In On Figure Technology Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. purchased a new position in Figure Technology Solutions during the third quarter valued at $64,000. SBI Securities Co. Ltd. purchased a new stake in Figure Technology Solutions in the 3rd quarter worth $66,000. PNC Financial Services Group Inc. bought a new position in shares of Figure Technology Solutions during the 3rd quarter valued at about $73,000. BNP Paribas Financial Markets bought a new stake in shares of Figure Technology Solutions in the third quarter worth about $102,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Figure Technology Solutions in the third quarter worth about $200,000.

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.