Needham & Company LLC Reiterates “Buy” Rating for Figure Technology Solutions (NASDAQ:FIGR)

Figure Technology Solutions (NASDAQ:FIGR)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $71.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 72.04% from the company’s current price.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group boosted their target price on Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Bank of America cut shares of Figure Technology Solutions from a “neutral” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research note on Tuesday. Keefe, Bruyette & Woods increased their price objective on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Figure Technology Solutions in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Figure Technology Solutions presently has an average rating of “Moderate Buy” and an average price target of $59.50.

Figure Technology Solutions Price Performance

NASDAQ:FIGR opened at $41.27 on Thursday. The company has a market capitalization of $7.27 billion and a price-to-earnings ratio of 121.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.26 and a quick ratio of 2.26. Figure Technology Solutions has a one year low of $30.01 and a one year high of $78.00. The business’s 50-day simple moving average is $49.53.

Figure Technology Solutions (NASDAQ:FIGR) last released its earnings results on Thursday, November 13th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.18. The business had revenue of $156.03 million for the quarter.

Insider Buying and Selling

In other Figure Technology Solutions news, Director June Ou sold 200,058 shares of Figure Technology Solutions stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Benjamin Tannenbaum sold 90,026 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $35.12, for a total value of $3,161,713.12. Following the transaction, the chief executive officer directly owned 3,641,903 shares in the company, valued at $127,903,633.36. The trade was a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,344,073 shares of company stock valued at $123,816,526 in the last ninety days.

Institutional Investors Weigh In On Figure Technology Solutions

A number of large investors have recently made changes to their positions in FIGR. Orland Properties Ltd bought a new position in shares of Figure Technology Solutions in the 3rd quarter worth approximately $319,187,000. Vanguard Group Inc. increased its holdings in Figure Technology Solutions by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,974,853 shares of the company’s stock valued at $121,493,000 after buying an additional 452,136 shares during the last quarter. Duquesne Family Office LLC bought a new position in Figure Technology Solutions in the third quarter worth approximately $76,989,000. Pantera Capital Partners LP purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth $56,114,000. Finally, Capital World Investors bought a new stake in shares of Figure Technology Solutions during the 3rd quarter valued at $50,918,000.

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.