Bernstein Analysts Predict Figure Technology's Stock Could Double Amid Growth in Tokenized Credit Platform

Bernstein analysts have upgraded Figure Technology with an 'Outperform' rating and a $67 price target, nearly double its current level, citing strong loan origination growth and expansion of its tokenized credit platform.

• Bernstein analysts upgraded Figure Technology with an 'Outperform' rating and a $67 price target.
• Figure originated $1.2 billion in loans in March, a 33% increase from the previous month.
• First-quarter originations reached $2.9 billion, more than doubling from a year earlier.
• The company uses the Provenance blockchain to reduce loan processing costs by 117 basis points.
• Figure's stock has declined more than 20% this year despite strong loan growth.
• Bernstein values Figure at 25 times its projected 2027 EBITDA, above existing digital asset companies.