Figure Technology Solutions (NASDAQ:FIGR) Given New $58.00 Price Target at The Goldman Sachs Group

Figure Technology Solutions (NASDAQ:FIGR) had its price target lifted by equities researchers at The Goldman Sachs Group from $51.00 to $58.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 4.19% from the company’s previous close.

A number of other equities analysts have also recently issued reports on FIGR. Wall Street Zen upgraded Figure Technology Solutions to a “hold” rating in a report on Monday, September 22nd. Bank of America boosted their target price on shares of Figure Technology Solutions from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. Mizuho raised their price target on shares of Figure Technology Solutions from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Jefferies Financial Group assumed coverage on shares of Figure Technology Solutions in a report on Monday, October 6th. They set a “hold” rating and a $40.00 price objective for the company. Finally, Zacks Research upgraded shares of Figure Technology Solutions from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.13.

Figure Technology Solutions Trading Up 6.6%

Shares of FIGR stock traded up $3.44 during trading hours on Tuesday, reaching $55.67. 1,970,768 shares of the stock were exchanged, compared to its average volume of 4,447,502. The company has a market cap of $9.80 billion and a price-to-earnings ratio of 163.74. Figure Technology Solutions has a 12-month low of $30.01 and a 12-month high of $59.40. The stock’s 50-day moving average is $41.03. 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 (NASDAQ:FIGR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.18. The firm had revenue of $156.03 million during the quarter.

Insider Activity at Figure Technology Solutions

In other Figure Technology Solutions news, Director June Ou sold 200,058 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $39.40, for a total value of $7,882,285.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David K. Chao purchased 4,000 shares of the stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $38.26 per share, for a total transaction of $153,040.00. Following the completion of the acquisition, the director directly owned 4,000 shares in the company, valued at approximately $153,040. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 3,344,073 shares of company stock valued at $123,816,526 over the last 90 days.

Institutional Trading of Figure Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Figure Technology Solutions during the third quarter worth approximately $64,000. SBI Securities Co. Ltd. acquired a new position in Figure Technology Solutions in the third quarter valued at approximately $66,000. PNC Financial Services Group Inc. purchased a new position in shares of Figure Technology Solutions during the 3rd quarter worth $73,000. BNP Paribas Financial Markets purchased a new stake in shares of Figure Technology Solutions in the 3rd quarter valued at approximately $102,000. Finally, Ameritas Advisory Services LLC acquired a new position in Figure Technology Solutions during the third quarter worth $200,000.

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.