Figure Technology Solutions Stock Down 60% From Highs — Bernstein Calls It a Buying Opportunity

Key Takeaways:

• Bernstein maintained an Outperform standing connected FIGR with a $67 terms target, implying much than a 100% upside from ~$31 to $32 range.
• Figure Technology Solutions reported Q1 2026 originations of $2.9 billion, much than treble year-over-year, with monthly volumes crossing $1 cardinal successful March 2026.
• Figure Connect is projected to grip 56% of full indebtedness volumes successful 2026, arsenic FIGR holds ~75% marketplace stock successful the $17 cardinal tokenized backstage recognition market.

FIGR Stock Analysis: Bernstein’s $67 Price Target and What It Means for Figure Technology Investors

Analysts astatine Bernstein issued the enactment past month, trimming the people from $72 portion keeping the bullish standing intact. The steadfast described the astir 60% pullback successful crypto-linked equities, including FIGR, arsenic a uncommon buying accidental driven by impermanent geopolitical and sentiment pressures alternatively than deteriorating fundamentals.

On Monday, Bernstein‘s outlook was much affirmative arsenic analysts elaborate that Figure perchance has much than 100% upside. Figure Technology Solutions, formerly Figure Technologies, was founded successful 2018 by Mike Cagney, co-founder of SoFi, and June Ou. The Reno, Nevada-based institution uses its proprietary Provenance blockchain to originate loans, tokenize recognition assets, and run Figure Connect, a marketplace linking indebtedness originators with organization capital.

The institution went nationalist connected the Nasdaq successful September 2025. Since then, Bernstein and galore different analysts person published a bid of progressively elaborate notes connected the stock. In October 2025, it initiated sum with a $54 terms target. By January 2026, it raised the people to $72 and named FIGR its apical prime for the year.

Figure shares connected April 7, 2026 earlier the marketplace open. Image root via tradingview.com.

Origination volumes person climbed steadily. Bernstein noted that monthly indebtedness volumes crossed $1 cardinal for the archetypal clip successful March 2026, reaching $1.2 billion, up 33% month-over-month. Q1 2026 originations totaled $2.9 billion, much than treble the aforesaid play a twelvemonth earlier, putting the institution connected a astir $12 cardinal annualized tally rate.

Bernstein projects full-year 2026 indebtedness volume astatine $12.8 billion, a 53% summation year-over-year. Home equity lines of recognition are expected to relationship for astir $11.1 cardinal of that total, with newer categories including car loans, tiny concern loans, and residential modulation loans contributing astir $1.7 billion.

Figure Connect, the company’s tokenized marketplace, is cardinal to that maturation projection. Bernstein expects the level to grip 56% of full volumes successful 2026, up from 46% successful 2025. The level processed astir 54% of volumes successful Q4 2025. Figure holds astir 75% marketplace stock successful the $17 cardinal tokenized backstage recognition market.

Revenue grew 48% implicit the trailing 12 months arsenic of the March note. Bernstein projects a 48% EBITDA compound yearly maturation complaint from 2025 done 2027, applying a 25x EV/2027 EBITDA valuation aggregate to get astatine the $67 target.

Q4 2025 results, reported successful February, showed nett maturation of 156% and gross adjacent $160 million. On Monday, Bernstein reaffirmed its Outperform standing and gave Figure a $67 target. FIGR shares are up 6.9% implicit the past period and the banal shed 5% implicit the past 5 trading sessions.

Other analysts are much cautious. Mizuho chopped its terms people from $55 to $45 connected March 26, portion maintaining an outperform rating. Bank of America downgraded the banal to underperform successful February with a $42 target. Needham lowered its people from $71 to $55 but kept a bargain rating. Piper Sandler raised its people to $75 with an overweight standing successful January.

Among 11 analysts tracked by Marketbeat, 2 complaint the banal a beardown buy, 5 complaint it a buy, 1 holds, and 3 person issued merchantability ratings. The mean terms people stands astatine $53.75. That’s presently little than the Bernstein analyst’s existent $67 target.

Marketbeat stats amusement institutional investors person taken tiny caller positions. Wells Fargo lifted its stake by 3.5% successful Q4 2025 to 18,429 shares. Global Retirement Partners, Strs Ohio, MetLife Investment Management, and Flagship Harbor Advisors each established caller positions during the aforesaid quarter.

FIGR shares person traded successful the $31 to $34 scope successful aboriginal April 2026, down astir 24% year-to-date and astir 60% from their 52-week high.