Figure Technology Solutions: Poised For Growth Via Share Gains, TAM Expansion
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Figure Technology Solutions Inc. (NASDAQ:FIGR) raised $787.5 million in its IPO on September 11. Analysts from BofA Securities and Goldman Sachs initiated coverage with Neutral and Buy ratings, respectively, and price targets of $41 and $42. BofA noted the company leads in HELOC with over 70% market share, while Goldman highlighted efficiencies from blockchain technology. Future revenue growth is expected to be driven by Figure Connect, projected to account for 75% of total revenue growth from 2024 to 2027. Shares rose 6.75% to $43.02 at publication.
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