BofA Upgrades Figure Tech to Neutral on Blockchain Lending Momentum

BofA Securities has upgraded Figure Technology Solutions (FIGR) to Neutral from Underperform, citing accelerating revenue growth and strong performance in its blockchain-powered lending marketplace.

The bank raised its price target for FIGR from $31 to $49, a nearly 60% increase driven by the company's growing consumer loan volume. In Q2 2026, Figure's total consumer loan marketplace volume hit $4.3 billion, with Figure Connect accounting for $2.8 billion.

BofA analysts expect this momentum to continue through 2028, which led them to change their rating from bearish to neutral. FIGR has positioned itself as the leading non-bank provider of home equity lines of credit (HELOCs), with every HELOC originated processed on-chain, reducing settlement times and cutting out intermediaries.