Figure Technology Solutions Stock Rises on BofA Upgrade and Higher Price Target

Shares of Figure Technology Solutions (FIGR) rose in pre-market trading after BofA Securities upgraded the stock and substantially increased its price target, citing a significantly improved revenue growth outlook.

BofA Upgrades Stance on Growth Outlook

In a note to clients, BofA Securities lifted its rating on Figure Technology Solutions to Neutral from a previous Underperform. The bank also raised its price target on the stock by nearly 60% to $49, up from $31.

The valuation change is underpinned by BofA's decision to expand the price-to-earnings multiple it applies to the company to 25 times from a prior 17.5 times. According to the note, this revision reflects a more optimistic revenue growth forecast for the company extending through 2028.

Figure Connect Drives Volume Growth

The core driver for the upgraded forecast is the rapid expansion of Figure Connect, the company's consumer credit marketplace. This platform has demonstrated significant traction, reinforcing BofA's confidence in the company's blockchain-native technology for origination and secondary market activity.

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Key performance metrics from the second quarter of 2026 highlighted the platform's momentum:

• Figure Connect accounted for 65% of the company's total volumes.
• The marketplace drove a 132% year-over-year increase in total company volume.

Market Reaction and Context

Figure's stock rose 1.7% in pre-open trading, bucking a negative trend in the broader market that saw major indices like the S&P 500 and Dow Jones trading lower. This divergence suggests the move was driven by the company-specific news rather than macroeconomic factors.

Despite the gain, the stock remains significantly below its 52-week high of $78. The BofA upgrade shifts the analyst consensus on Wall Street, which now consists of six buy ratings against one remaining sell rating, according to the source material.