In brief
- Bernstein analysts are forecasting more than a 30% jump in shares of blockchain lending firm, Figure Technologies.
- Figure hit public markets in September, conducting an IPO at $25 per share of FIGR.
- Shares are up around 6.5% today and trading at $42.71. Bernstein set its price target at $54.
Blockchain lender Figure Technologies (FIGR) has “tremendous growth headroom” according to analysts at investment firm Bernstein, earning it an “outperform” rating and a new price target of $54 per share.
The new price target hints at more than 30% upside based on Monday’s opening FIGR trading price of $41.02. Shares of FIGR were up 6.4% since trading began, now changing hands at $42.76.
“Figure’s technology stack brings the liquidity of blockchain capital markets to consumer loans, transforming a ‘balance sheet heavy’ lending model to a ‘capital light’ marketplace business,” Bernstein analysts wrote.
“With addressable market for credit tokenization over $2 trillion, FIGR has tremendous growth headroom, as it expands from HELOCs (home equity line of credit) into new loan products and potentially even new asset classes such as equities.”
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Author: Logan Hitchcock
