Wall Street Analysts Initiate Coverage of Figure Technology with Bullish Ratings
Several financial institutions, including Bank of America, Bernstein, and Goldman Sachs, have begun coverage of the fintech blockchain platform Figure Technology Solutions.
- Goldman Sachs, Piper Sandler, Bernstein, Mizuho, Keefe Bruyette, and Needham initiated coverage with a bullish rating.
- Autonomous, Jeffries, and Bank of America began coverage with a neutral rating.
Figure's stock started trading on NASDAQ on September 11 at an initial price of $25 per share. As of now, it is trading around $42.77.
Wall Street Price Targets for FIGR
- Bernstein set a price target of $54 with an "outperform" rating.
- Piper Sandler gave a target of $50.
- Goldman Sachs set a target of $42 while maintaining a bullish stance.
- Jeffries rated it "hold" with a $40 target.
Bernstein sees Figure as a market leader with an early mover advantage. They reported Figure served over $5 billion in HELOC loans in 2024, covering approximately 13% of the US non-bank market. They predict this could increase to 25% by 2027.
- Bank of America and Autonomous rated FIGR as "neutral," both setting the price target at $41.
- Jeffries noted the stock is "fairly valued" with a "hold" rating.