Figure Technology (FIGR) Rockets 21% on Bullish Rating
Figure Technology Solutions Inc. (NASDAQ:FIGR) is one of the 10 Stocks Investors Are Watching.
Figure Technology soared by 21.29 percent on Tuesday to close at $39.59 apiece, as investors gobbled up shares following an investment firm’s bullish rating for the stock.
In its market report, Mizuho reaffirmed its “outperform” rating for Figure Technology Solutions Inc. (NASDAQ:FIGR), albeit lowering its price target to $55 from $64 previously. Still, the new price target represents a 39 percent upside potential from its latest closing price.
The coverage reflected the investment firm’s optimism for Figure Technology Solutions Inc. (NASDAQ:FIGR) following its recently inked deal with fintech firm Agora Data Inc. for the integration of auto loans into the Figure platform, opening doors for both companies to tap into the $670-billion auto loan total addressable market.
Additionally, Mizuho cheered Figure Technology Solutions Inc.’s (NASDAQ:FIGR) strong earnings performance last year, with net income soaring by 575 percent to $134.28 million from only $19.9 million in 2024. Net revenues climbed by 49 percent to $506.86 million from $340.88 million year-on-year.
In the fourth quarter alone, net income jumped by 156 percent to $15.08 million from $5.89 million, while net revenues soared by 90.8 percent to $159.9 million from $83.8 million.
While we acknowledge the potential of FIGR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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