Figure Technology Analysts Boost Their Forecasts After Upbeat Q3 Earnings

Figure Technology Solutions +2.61%

Figure Technology Solutions

FIGR

33.75

+2.61%

Figure Technology Solutions Inc (NYSE:FIGR) posted better-than-expected financial results for the third quarter on Friday.

Figure Technology reported third-quarter earnings of 34 cents per share, versus the analyst consensus estimate of 15 cents per share. The company brought in $156.37 million in sales last quarter, beating analyst forecasts of $119.01 million.

"We recently completed our successful initial public offering and are pleased to report a strong first-quarter as a public company," said Michael Tannenbaum, CEO. "The continued success of Figure's marketplace approach to tokenized consumer loan origination drove significant growth in earnings, with Net Income increasing 227% year-over-year while also achieving an Adjusted EBITDA margin of 55%, underscoring the scalability of our blockchain-based model."

Figure Technology shares gained 11.6% to trade at $44.89 on Monday.

These analysts made changes to their price targets on Figure Technology following earnings announcement.

  • Mizuho analyst Dan Dolev maintained Figure Technology with an Outperform rating and raised the price target from $47 to $56.
  • B of A Securities analyst Craig Siegenthaler maintained the stock with a Neutral and raised the price target from $41 to $47.

Considering buying FIGR stock? Here’s what analysts think:

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