Bernstein reiterates $67 Figure target after Q1 loan volumes double, sees 72% upside from tokenization thesis
Bernstein reiterates $67 Figure target with 72% upside after Q1 loan volumes jump 113% year-over-year to $2.9 billion....
Key takeaways
- 1Figure's Q1 loan volumes surged 113% YoY to $2.9 billion with $167 million adjusted net revenue, beating consensus by 6%.
- 2Bernstein reiterates $67 price target implying 72% upside; Figure Connect now represents 56% of loan volumes across 387 distribution partners.
- 3YLDS security token supply hit $598 million (up 80% QoQ); management guided Q2 volumes at $3.8-4.1 billion, 35% above Q1.
Why it matters
Figure's tokenization-driven model and blockchain capital markets platform position it as a structural growth play in digital credit markets rather than traditional lending, directly relevant to Indian retail investors tracking crypto and fintech innovation. The rapid expansion of Figure Connect and security token adoption signals mainstream institutional adoption of blockchain-based finance infrastructure.
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