Kyle Peterson, an analyst from Needham, has initiated a new Buy rating on Figure Technology Solutions, Inc. Class A (FIGR).
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Kyle Peterson has given his Buy rating due to a combination of factors that highlight Figure Technology Solutions, Inc.’s (FIGR) strong position in the digital lending and blockchain sectors. The company is recognized as a leader in these areas, particularly for its use of proprietary provenance blockchain technology to offer HELOC loans with superior economics to prime and super-prime customers.
Kyle Peterson also sees potential for FIGR’s technology to be scaled and applied to other consumer credit products. Additionally, the company’s focus on expanding its product suite to include stablecoins, democratized prime, and a crypto exchange further supports the Buy rating. The price target of $51 is based on a FY27 GAAP P/E multiple of 55x, which suggests a GAAP PEG ratio of 2x, indicating strong growth potential in the coming years.
In another report released today, KBW also initiated coverage with a Buy rating on the stock with a $48.50 price target.