BofA cuts Figure Technology stock price target on lower loan volumes

BofA Securities has adjusted its price target for Figure Technology (NASDAQ: FIGR) stock, reducing it from $49 to $44. This adjustment, while maintaining a Neutral rating, indicates a 54% upside potential from the current stock price of $28.53, which has declined 30% year-to-date. The company's earnings estimates for the third quarter and full year of 2026 have also been lowered, reflecting reduced loan volumes and a decreased take rate of 3.51%.

The new target, based on a 22.5x multiple on 2028 earnings per share, is down from the previous 25x multiple. Despite these adjustments, InvestingPro analysis suggests the stock is undervalued at current levels, and the firm's Pro Research Report offers further insights.