Catenaa, Saturday, October 11, 2025- Bernstein has initiated coverage on Figure Technology Solutions with an “outperform” rating and a $54 price target, citing the company’s leadership in blockchain-based credit tokenization and its potential to transform traditional lending markets.
The analysts highlighted Figure’s roughly 75% share of the $17 billion tokenized private credit market and forecast 30% annual revenue growth through 2027.
The firm’s blockchain infrastructure, including its Provenance-based tokenization system, loan origination tools, and bilateral marketplace for tokenized credit, positions it to expand into tokenized equities and other real-world assets.
The coverage note also emphasizes Figure’s ability to reduce operating costs by over 90% and loan turnaround times by roughly 75% through blockchain-enabled liquidity.
Analysts value the company at about 26 times 2027 EBITDA and 40 times projected earnings, implying roughly 34% upside from Friday’s close of $40.30.
