Scan to download
BTC $79,113.28 -2.89%
ETH $2,226.83 -2.74%
BNB $673.11 -1.48%
XRP $1.44 -3.92%
SOL $89.29 -3.30%
TRX $0.3520 -0.45%
DOGE $0.1130 -2.87%
ADA $0.2616 -3.79%
BCH $427.08 -2.22%
LINK $10.08 -3.97%
HYPE $44.13 -2.30%
AAVE $93.24 -5.44%
SUI $1.10 -7.56%
XLM $0.1552 -4.80%
ZEC $517.57 -8.04%
BTC $79,113.28 -2.89%
ETH $2,226.83 -2.74%
BNB $673.11 -1.48%
XRP $1.44 -3.92%
SOL $89.29 -3.30%
TRX $0.3520 -0.45%
DOGE $0.1130 -2.87%
ADA $0.2616 -3.79%
BCH $427.08 -2.22%
LINK $10.08 -3.97%
HYPE $44.13 -2.30%
AAVE $93.24 -5.44%
SUI $1.10 -7.56%
XLM $0.1552 -4.80%
ZEC $517.57 -8.04%

67

Bernstein reiterated the target price of $67 for Figure, optimistic about a 72% upside driven by tokenization

Bernstein reiterated its "Outperform" rating on Figure Technology Solutions (FIGR) and maintained a target price of $67, implying about a 72% upside from the current stock price of $38.97. Figure's Q1 2026 performance was strong: loan issuance reached $2.9 billion, a year-on-year increase of 113%; adjusted revenue was $167 million, a year-on-year increase of 92%, exceeding market expectations by 6%; adjusted EBITDA was $82.7 million, with a profit margin of about 50%, slightly above market expectations. However, the GAAP diluted EPS was $0.18, about 9% below expectations, primarily impacted by $26 million in equity incentive expenses.Bernstein's analysis suggests that this performance should reshape the market's perception of Figure, as it is not a traditional credit company, but rather a "tokenization-driven capital market platform," with core profits coming from network fees and operational leverage, and it maintains a pricing model based on a 25x EBITDA valuation for 2027. Additionally, the tokenization ecosystem continues to expand: the yield-bearing security token YLDS reached $598 million (up 80% quarter-on-quarter); the balance of stock lending products was $368 million (up 79%); and the small business loan segment contributed $6 million in revenue. Figure's current stock price is still not far from the 2025 IPO issue price of $36, but there remains a significant gap from the historical high of $78.
app_icon
ChainCatcher Building the Web3 world with innovations.