Bernstein Rates Figure (FIGR) as Outperform in Blockchain Credit Markets
- Bernstein initiated coverage of Figure with a price target of $54, highlighting its leadership in blockchain for credit markets.
- The stock rose by approximately 2% to $41.10 following the report.
- Figure holds about 75% of the $17 billion tokenized private credit market, positioning it as a frontrunner.
- The addressable market for credit tokenization is estimated to exceed $2 trillion.
- Figure is the top independent home equity line of credit lender in the U.S., originating around $5.1 billion in loans this year.
- Revenue is projected to grow from $341 million in the current year to $754 million by the end of the forecast period, reflecting a growth rate of about 30% annually.
Figure’s innovative blockchain platform aims to transform lending into a capital-light marketplace, improving efficiency and access for investors. The company’s management and extensive network are also noted as significant strengths that support its growth potential.
With an estimated revenue increase from $341 million to $754 million by the end of the forecast period, Figure’s position as a leader in tokenization within credit markets is reinforced.Source
