Figure Technology Solutions' stock fell over 9% in early Thursday trading, settling in the mid-$32 range after nearing $37 earlier this week. This decline extends the company's year-to-date pullback of over 20%, reflecting ongoing market uncertainty in the cryptocurrency sector and high-growth tech stocks. Despite the volatility, Bernstein maintains a positive outlook on Figure, citing its undervaluation and setting a $67 price target.
Figure, a fintech firm leveraging blockchain for consumer loans, recently surpassed $1 billion in monthly transaction volume. The broader crypto market has seen similar volatility, with stocks like Robinhood, Circle, and Coinbase also under pressure. However, a Bernstein report suggests these stocks may have bottomed out ahead of first-quarter earnings. Figure is set to release its earnings on May 11, with expectations of $0.22 EPS and $160.3 million in revenue.
Figure's Stock Drops 9% Amid Market Volatility, Hits $10B Loan Milestone
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