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

Figure Technology Solutions (NASDAQ:FIGR)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $55.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 49.33% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Zacks Research upgraded Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday. Wall Street Zen upgraded shares of Figure Technology Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods lowered their target price 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 Monday, July 13th. Weiss Ratings raised shares of Figure Technology Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Finally, Piper Sandler lowered their price objective on shares of Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock 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 $36.83 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.86 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $29.74 and a two-hundred day moving average of $33.12. Figure Technology Solutions has a 52 week low of $24.11 and a 52 week high of $78.00. The company has a market cap of $6.84 billion and a P/E ratio of 39.60.

Figure Technology Solutions (NASDAQ:FIGR) last posted its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $218.45 million during the quarter. Figure Technology Solutions had a return on equity of 18.90% and a net margin of 33.45%. As a group, analysts anticipate that Figure Technology Solutions will post 1.18 EPS for the current year.

Insider Activity at Figure Technology Solutions

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

Institutional Investors Weigh In On Figure Technology Solutions

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in Figure Technology Solutions during the 4th quarter worth about $25,000. WPG Advisers LLC raised its holdings 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 acquiring an additional 388 shares during the period. Strs Ohio acquired a new stake in shares of Figure Technology Solutions during the fourth quarter valued at approximately $34,000. MetLife Investment Management LLC purchased a new stake in shares of Figure Technology Solutions in the 4th quarter valued at approximately $35,000. Finally, Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions in the 4th quarter worth approximately $41,000.

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.