Figure Technology Solutions’ (FIGR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Figure Technology Solutions (NASDAQ:FIGR) in a report published on Thursday morning,Benzinga reports. They currently have a $55.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Weiss Ratings upgraded Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Mizuho increased their price objective on Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Piper Sandler cut their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Sanford C. Bernstein lifted their target price on Figure Technology Solutions from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.62.

Figure Technology Solutions Stock Performance

Shares of FIGR stock opened at $39.10 on Thursday. The firm’s 50 day moving average is $30.12 and its 200 day moving average is $33.01. The stock has a market capitalization of $7.26 billion and a P/E ratio of 42.04. Figure Technology Solutions has a 12 month low of $24.11 and a 12 month high of $78.00. The company has a current ratio of 1.86, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Figure Technology Solutions (NASDAQ:FIGR) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The business had revenue of $218.45 million during the quarter. On average, sell-side analysts anticipate that Figure Technology Solutions will post 1.18 earnings per share for the current year.

Insider Transactions at Figure Technology Solutions

In related news, insider David Todd Stevens sold 47,650 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the transaction, the insider directly owned 376,599 shares in the company, valued at $11,817,676.62. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Minchung Kgil sold 9,117 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.06, for a total transaction of $274,057.02. Following the completion of the transaction, the chief financial officer owned 507,651 shares in the company, valued at $15,259,989.06. This represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 72,767 shares of company stock worth $2,232,634 over the last ninety days. Insiders own 26.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in shares of Figure Technology Solutions during the 4th quarter valued at about $25,000. WPG Advisers LLC increased its position in shares of Figure Technology Solutions by 71.1% during the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock valued at $32,000 after buying an additional 388 shares during the period. Strs Ohio bought a new position in Figure Technology Solutions in the fourth quarter worth about $34,000. MetLife Investment Management LLC bought a new position in Figure Technology Solutions in the fourth quarter worth about $35,000. Finally, Johnson Financial Group Inc. purchased a new stake in Figure Technology Solutions in the fourth quarter worth about $41,000.

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.