Zacks Research Downgrades Figure Technology Solutions (NASDAQ:FIGR) to Hold

Figure Technology Solutions (NASDAQ:FIGR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Figure Technology Solutions from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods upped their price target on shares of Figure Technology Solutions from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Mizuho raised their price objective on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. Texas Capital upgraded shares of Figure Technology Solutions to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Piper Sandler increased their target price on Figure Technology Solutions from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.50.

Figure Technology Solutions Price Performance

NASDAQ:FIGR opened at $39.94 on Wednesday. The stock has a market capitalization of $7.03 billion and a P/E ratio of 117.47. The stock has a fifty day moving average price of $49.43. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.17. Figure Technology Solutions has a 1 year low of $30.01 and a 1 year high of $78.00.

Figure Technology Solutions (NASDAQ:FIGR) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.18. The firm had revenue of $156.03 million for the quarter.

Insider Activity

In other news, CFO Minchung Kgil sold 100,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $35.09, for a total transaction of $3,509,000.00. Following the completion of the transaction, the chief financial officer directly owned 617,149 shares in the company, valued at $21,655,758.41. The trade was a 13.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Scott Cagney sold 500,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $36.22, for a total transaction of $18,110,000.00. Following the completion of the transaction, the director directly owned 6,378,993 shares in the company, valued at approximately $231,047,126.46. The trade was a 7.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,344,073 shares of company stock worth $123,816,526 in the last three months.

Hedge Funds Weigh In On Figure Technology Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in shares of Figure Technology Solutions in the 4th quarter valued at about $34,000. Flagship Harbor Advisors LLC purchased a new position in shares of Figure Technology Solutions during the fourth quarter worth about $40,000. Blue Trust Inc. bought a new position in shares of Figure Technology Solutions in the third quarter worth approximately $64,000. SBI Securities Co. Ltd. bought a new position in shares of Figure Technology Solutions in the third quarter worth approximately $66,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Figure Technology Solutions in the third quarter valued at approximately $73,000.

Figure Technology Solutions News Summary

Here are the key news stories impacting Figure Technology Solutions this week:

• Positive Sentiment: Needham & Company reaffirmed a “Buy” on FIGR and set a $71 price target (implying material upside), supporting bullish analyst interest. Needham Reaffirms Buy, $71 PT
• Positive Sentiment: January operating data showed big year-over-year growth (consumer loan marketplace volume $816M, +115% YoY) and strong traction on Democratized Prime (matched offers +23% MoM; borrower demand +17% MoM), reinforcing the company’s growth narrative in tokenized lending. The release also highlights $YLDS circulation growth and Figure’s AAA-rated securitization milestones. Figure Reports January Operating Data
• Positive Sentiment: Figure announced a partnership with Valon Technologies to apply AI and blockchain enhancements to loan origination, which could expand distribution/use of Figure’s LOS and tokenization stack if adoption follows. Valon Technologies, Figure Partner to Enhance Loan Origination
• Neutral Sentiment: Other media pieces and analyst notes (including price-target increases from some outlets) reinforce the bull case and long-term story, but they are commentary rather than new fundamentals. FIGR Price Target Increased to $65.96 (MSN)
• Negative Sentiment: Bank of America lowered its rating on FIGR to “Underperform” — a high-profile downgrade that likely put immediate downward pressure on the stock despite other positive notes. FIGR Rating Lowered to Underperform at Bank of America
• Negative Sentiment: Public filings and data aggregators highlight substantial insider selling activity over recent months (numerous large sales by executives), which can amplify negative sentiment and reduce investor confidence. QuiverQuant: FIGR Operating Data and Insider Activity

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.