Blockchain-based lender Figure named 2026 'top pick' by Wall Street analyst

Core Viewpoint - Wall Street broker Bernstein has identified Figure Technology (FIGR) as its top investment idea for 2026, highlighting the company's potential for rapid growth in the blockchain lending market amid banking sector uncertainties and evolving regulatory frameworks for crypto [1]. Group 1: Company Overview - Figure Technology is modernizing legacy banking infrastructure by transitioning traditional ledgers to blockchain technology, which is seen as increasingly urgent in the current banking environment [1]. - The company's business model is evolving rapidly, expanding beyond home equity lending into new lending categories and a dynamic tokenized marketplace [2]. Group 2: Financial Projections - Bernstein projects Figure's net revenue to increase to approximately $945 million by 2027, a significant rise from an estimated $511 million in 2025, representing a 21% increase over previous forecasts [3]. Group 3: Stock Performance and Analyst Ratings - Analyst Gautam Chhugani has reiterated an "outperform" rating for Figure's stock, raising the price target by 33% from $54 to $72, which is the second-highest target among Wall Street analysts [4]. - Since its Nasdaq listing in September 2025, Figure's shares have risen from an IPO price of $25, trading between $30 and $59, reflecting market volatility and investor interest in its blockchain lending narrative [5].