Bernstein reaffirms the target price of $67 for Figure, optimistic about the long-term growth of tokenization platforms

ME News, May 12 (UTC+8): After Figure Technology Solutions released its 2026 Q1 performance, Bernstein reiterated an “Outperform” rating and a $67 target price, still leaving about 72% upside versus the current share price of $38.97. Figure’s Q1 loan origination volume reached $2.9 billion, up 113% year over year; adjusted net income was $167 million, up 92% year over year and 6% above market expectations. Of this, Figure Connect, its blockchain-based credit market, contributed 56% of the loan volume, and the number of co-distribution partners rose to 387, including the large U.S. bank Flagstar Bank. Bernstein believes the market is incorrectly treating Figure as a traditional fintech company rather than a “pure tokenized capital markets platform.” Its yield-bearing securities token YLDS supply grew 80% quarter over quarter to $598 million, further reinforcing its RWA and on-chain credit infrastructure growth logic. (Source: PANews)