Figure Technology Solutions Inc. (NASDAQ:FIGR) is one of the 10 stocks investors are watching.
Figura Technology soared 21.29 percent on Tuesday to close at $39.59 apiece, as investors devoured the stock following an investment firm’s bullish rating on the stock.
In its market report, Mizuho reaffirmed its “outperform” rating on Figure Technology Solutions Inc. (NASDAQ:FIGR), although it lowered its price target to $55 from $64 previously. Still, the new price target represents a 39 percent upside potential from its last closing price.
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The coverage reflected the investment firm’s optimism for Figure Technology Solutions Inc. (NASDAQ:FIGR) following its recently signed deal with financial technology firm Agora Data Inc. for the integration of auto loans into the Figure platform, opening doors for both companies to tap into the total $670 billion auto loan market.
Additionally, Mizuho applauded Figure Technology Solutions Inc.’s (NASDAQ:FIGR) strong earnings performance last year, with net income soaring 575 percent to $134.28 million from just $19.9 million in 2024. Net income rose 49 percent to $506.86 million from $340.88 million year-on-year.
In the fourth quarter alone, net income rose 156 percent to $15.08 million from $5.89 million, while net income soared 90.8 percent to $159.9 million from $83.8 million.
While we recognize the potential of FIGR as an investment, our conviction lies in the belief that some AI stocks have more promise to generate higher returns and have limited downside risk. If you’re looking for an extremely cheap AI stock that’s also one of the biggest beneficiaries of Trump’s tariffs and offshoring, check out our free report on the best short-term AI stock.
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