Key Notes
- Bernstein leads with $54 price target and outperform rating, citing Figure's market leadership in blockchain-based HELOC lending.
- The fintech platform currently holds 13% of the non-bank HELOC market with $5 billion in loans originated during 2024.
- Mixed analyst sentiment emerges as some firms rate the stock neutral, suggesting current $42.77 price reflects fair valuation.
Analysts from several noteworthy financial institutions including Bank of America, Bernstein, and Goldman Sachs, have initiated coverage of fintech blockchain platform Figure Technology Solutions.
According to data from The Fly , analysts at Goldman Sachs, Piper Sandler, Bernstein, Mizuho, Keefe Bruyette, and Needham have initiated coverage as of Oct. 6 with a bullish rating. Meanwhile, Autonomous, Jeffries, and Bank of America have begun coverage with a neutral rating.
Figure stock began trading on the NASDAQ market on Sept. 11. As Coinspeaker reported at the time, the firm set its initial price at $25.00 per share with 31,500,000 shares of its Class A common stock put on offer.
As of the time of this article’s publication, FIGR is trading at around $42.77.
FIGR appears to have experienced a slight bump in the hours after analysis initiated coverage. Source: TradingView .
Wall Street Sets Aggressive Price Targets for FIGR
Bernstein analysts reportedly gave FIGR a price target of $54 with an “outperform” rating, according to a note sent to investors. Piper Sandler gave a similar value at $50. At the other end of the spectrum, Goldman Sachs, still rating the stock as bullish, gave it a $42 price target while Jeffries rated it a “hold” with a $40 price target.
Bernstein analysts appeared the most optimistic. Analysts there, led by the firm’s managing director and senior analyst, global digital assets Gautam Chhugani, called Figure a market leader with an early mover advantage.
They also see expansion in Figure’s future. According to the note, Figure served more than $5 billion in home equity line of credit (HELOC) loans in 2024. These loans accounted for approximately 13% of the US market for non-bank firms. Bernstein predicts Figure will assume 25% of this market by 2027.
Analysts from Autonomous, Jeffries, and Bank of America didn’t appear to see the same upside as those from Goldman Sachs, Piper Sandler, Bernstein, Mizuho, Keefe Bruyette, and Needham. While Bank of America and Autonomous both rated FIGR as “neutral” with both setting the price target at $41, Jeffries gave it a “hold” rating and said the stock was currently “fairly valued.”
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