Bernstein reiterates $67 Figure target after Q1 loan volumes double, sees 72% upside from tokenization thesis
The Block
Bernstein maintains a $67 price target for Figure, citing doubled Q1 loan volumes and 72% upside from its tokenization strategy.Summary
Bernstein has reaffirmed its Outperform rating and $67 price target for Figure Technology Solutions (FIGR), projecting a 72% upside from its current stock price. This reiteration follows Figure's first-quarter 2026 results, which showed loan volumes doubling year-over-year to $2.9 billion and adjusted net revenue increasing by 92% to $167 million. The firm views Figure as a blockchain capital markets platform, with its Figure Connect marketplace accounting for 56% of total loan volumes and showing strong growth. Bernstein's valuation is based on a 25x estimated 2027 EBITDA, reflecting the company's tokenization thesis and its position as a leader in the tokenized private credit market.
(Source：The Block)