BofA Securities upgrades Figure Technology to Neutral with $49 price target, citing blockchain lending momentum

BofA Securities just did a full 180 on Figure Technology Solutions. The bank upgraded FIGR from Underperform to Neutral on September 9, raising its price target from $31 to $49, a nearly 60% bump driven by accelerating revenue growth and strong performance from the company’s blockchain-powered lending marketplace. For a stock that’s been stuck in the $25 to $38 range since its IPO a year ago, the revised target suggests BofA sees meaningful upside ahead. Figure Connect is the engine The upgrade centers on Figure Connect, a consumer credit marketplace that matches lenders with capital providers. In Q2 2026, Figure’s total consumer loan marketplace volume hit $4.3B, a 132% increase year-over-year. Of that, Figure Connect accounted for $2.8B, making it the dominant driver of the company’s volume growth. BofA’s analysts flagged that this momentum is expected to continue through 2028, which is what ultimately tipped the scales from bearish to neutral. Figure Technology Solutions has positioned itself as the leading non-bank provider of home equity lines of credit, or HELOCs. A rocky analyst history BofA’s relationship with FIGR has been anything but steady. The bank initiated coverage w...