Key Takeaways
- Bernstein maintains “Outperform” rating on FIGR with $67 price target, suggesting approximately 67% potential gain
- Stock has gained almost 10% during the past month, yet analysts believe significant value remains
- April loan volumes reached $1.34 billion, representing 108% annual growth
- Analysts project tokenized credit addressable market at $4 trillion in total value
- Company diversifying beyond HELOCs into automotive financing, mortgage products, and small-business credit through Hastra platform
Figure Technology Solutions (FIGR) has advanced nearly 10% during the last month, currently changing hands around $40 per share. Bernstein analysts maintain their view that considerable value remains untapped.
Figure Technology Solutions, Inc. Class A Common Stock, FIGR
Bernstein issued a Tuesday research update confirming its “Outperform” stance alongside a $67 price objective — representing approximately 67% appreciation potential from present trading levels.
The investment case extends well beyond traditional lending operations. Analysts view the transformation underway at Figure as fundamental to their optimistic outlook.
Bernstein characterizes Figure as undergoing a strategic evolution — transitioning from its original focus on home equity lines of credit toward a comprehensive platform leveraging blockchain technology and artificial intelligence for credit market operations.
Tokenization stands at the center of this strategy: transforming traditional loans into blockchain-based tradable instruments capable of real-time settlement while eliminating conventional middlemen.
Analysts estimate the tokenized credit addressable opportunity at approximately $4 trillion. This represents a substantially larger market compared to HELOC origination alone.
This $4 trillion opportunity encompasses multiple loan categories — including mortgage products, automotive financing, home equity products, and small-business credit facilities — representing areas where Figure currently pursues expansion.
Strong Volume Growth Supports Investment Case
The performance metrics tell a compelling story. April loan volumes totaled $1.34 billion, reflecting 108% year-over-year expansion.
This achievement also represents the second consecutive month surpassing the $1 billion benchmark — indicating sustained momentum rather than isolated performance.
Bernstein forecasts total loan volumes will climb to $16.5 billion by 2027, compared with $8.4 billion anticipated for 2025. This trajectory represents near-doubling within a two-year timeframe.
Hastra Platform Drives Blockchain Credit Initiative
Figure has entered automotive lending via its Hastra infrastructure, engineered to integrate tokenized credit instruments within decentralized finance protocols and broader blockchain ecosystems.
The company operates within a developing competitive landscape. Centrifuge has similarly broadened its DeFi infrastructure to incorporate tokenized credit alongside US Treasury instruments across multiple blockchain networks.
For perspective, the existing tokenized credit sector currently totals roughly $5.5 billion — minimal compared to Bernstein’s $4 trillion long-range projection.
This substantial differential forms the foundation of the bullish investment perspective.
Bernstein’s $67 price objective carries forward from earlier research, with analysts leaving their fundamental assessment intact.
