On September 11, Figure Technology Solutions rose 5.66% in regular trading, trading at $38.575/share, with turnover of $12.71 million. The stock extended its upward momentum following a significant analyst upgrade earlier this week.
BofA Global Research upgraded Figure Technology Solutions from Underperform to Neutral and raised its price target from $31 to $49, representing a 58% increase. The move reflects a markedly improved institutional outlook on the company. According to FactSet, the stock currently carries an average analyst rating of Overweight with a mean price target of $52.67, suggesting further upside potential from current levels.
The upgrade comes on the heels of a strong Q2 earnings report in August, in which the company posted EPS of $0.35, beating the consensus estimate of $0.23 by over 52%. Revenue surged to $225.6 million from $106.1 million a year earlier, also exceeding the $208.2 million estimate. Additionally, the company announced in June a $717 million agreement to acquire Kiavi, an AI-powered residential real estate lending platform, expected to add over $7 billion in annualized first-lien loan volume to its Connect marketplace.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)