Figure Technology Solutions, Inc. Class A (FIGR) has received a new Buy rating, initiated by Goldman Sachs analyst, James Yaro.
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James Yaro’s rating is based on the innovative use of blockchain technology by Figure Technology Solutions, Inc. (FIGR) to drive growth in consumer lending. The company has adopted a balance sheet light business model, which is seen as attractive due to its potential for efficiency in loan origination and sales processes.
Additionally, FIGR’s core product, home equity loans (HELOC), is expected to gain market share, and there is potential for expansion into other consumer loan markets. The efficiencies provided by blockchain technology also suggest that FIGR could explore product opportunities beyond consumer loans in the future.
In another report released today, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $47.00 price target.