- Figure technology went public last month.
- The blockchain-based lending company has room to grow.
- That’s according to new forecasts from Bernstein.
Figure Technology Solutions is about to rip.
That’s according to analysts at Bernstein who predict that the blockchain-based lending and credit platform’s share price will surge by 34% to hit $54.
“Just as stablecoins transformed payments, tokenised loans will redefine lending,” Gautam Chhugani and three of his colleagues at Bernstein wrote in a note to investors seen by DL News. “Figure is years ahead in execution and market share.”
The investor note marks the general bullishness around crypto companies this year. Not only has several industry players — such as Circle, Gemini and Bullish — listed on public stock exchanges, but venture capital investment into the sector has surged by 70% to over $17 billion this year.
Indeed, the leading crypto exchanges in the world are now recruiting for thousands of roles, highlighting their optimism for the sector.
Wall Street demand
Wall Street’s red hot demand for Figure’s shares was evident in September when the firm listed on the Nasdaq.
The initial public offering, led by Wall Street giants Goldman Sachs, Jefferies, and Bank of America, marked a milestone for blockchain-based finance entering the mainstream.
Figure is “the first scaled business model for tokenised credit,” the Bernstein note said. Chhugani and the rest argued that Figure may become the Nasdaq of blockchain-based lending and is set to dominate the $2 trillion consumer lending market.
Bernstein’s $54 target implies a market cap of about $11.5 billion, positioning Figure as a frontrunner among tokenisation firms bridging traditional finance and crypto.
Bernstein expects Figure’s revenues to more than double from $341 million in 2024 to $754 million by 2027, driven by rapid adoption of its capital-light model.
Key earnings metrics are forecast to quadruple to $427 million, lifting margins from 30% to 57%.
Founded by SoFi’s former CEO Mike Cagney, Figure has already tokenised around $17 billion in private credit, controlling 75% of that market.
The platform works with titans of traditional finance, including private credit firms KKR, Apollo, and Blackstone.
Its blockchain marketplace, Figure Connect, enables banks and credit investors to trade loans directly, cutting costs by more than 90% and reducing settlement times from days to minutes.
“Figure is building the rails for blockchain-based capital markets,” analysts wrote.
“It’s a platform play on a trillion-dollar tokenisation trend — not a speculative bet, but the infrastructure layer enabling it.”
Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email at lance@dlnews.com.
