Figure Stock Outlook: Bernstein Sees Upside from Loan Growth, Tokenization

Bernstein analysts have assigned Figure Technology Solutions an "Outperform" rating and a $67 price target, nearly doubling the stock's current trading level. This optimistic outlook is driven by accelerating loan originations and the scaling of Figure's tokenized credit marketplace. The company, a blockchain-based lending platform, originated $1.2 billion in loans in March, exceeding $1 billion for the first time and marking a 33% increase from the previous month. First-quarter originations reached $2.9 billion, more than double the previous year. Figure primarily originates home equity lines of credit (HELOCs) using the Provence blockchain to enhance efficiency and reduce costs. Despite strong operational performance and a valuation that reflects its "structural prospects" as both a tokenization platform and a lending business, Figure stock has experienced a decline this year due to broader market volatility. Bernstein values the company at approximately 25 times its projected 2027 EBITDA, a multiple higher than existing digital asset companies.

(Source：Cointelegraph)