Figure initiated with a Buy at Needham

Needham initiated coverage of Figure (FIGR) with a Buy rating and $51 price target The firm says Figure is a leader at the forefront of digital lending and blockchain. The company’s technology can be scaled and applied to other consumer credit products beyond home equity lines of credit, the analyst tells investors in a research note. Needham expects Figure to continue to focus on expanding its product suite in areas such as stablecoins, democratized prime, and its crypto exchange.