Figure Technology’s tokenized credit platform could help double stock price: Bernstein

Bernstein says Figure may be undervalued as loan volumes surge and its tokenized credit platform expands, despite recent stock declines and market volatility.

Figure Technology Solutions, a blockchain-based lending platform that went public last year, may be undervalued at current levels as loan originations accelerate and its tokenized credit marketplace scales, according to Bernstein analysts.

In a report published Monday, Bernstein assigned Figure an “Outperform” rating and a $67 price target — nearly double the stock’s recent trading level of around $32.

The bullish call follows a surge in lending activity. Figure originated $1.2 billion in loans in March, up 33% from the previous month and marking the first time monthly volumes exceeded $1 billion. 

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