Figure Technology Solutions Shares Rise Premarket on BofA Upgrade

Figure Technology Solutions shares gained 1.7% during pre-market trading after BofA Securities upgraded the stock, raising its rating from Underperform to Neutral and boosting its price target to $49 from $31. The bank underpinned its decision by increasing the price-to-earnings multiple to 25 times from 17.5 times, citing a considerably more favorable revenue growth outlook that is seen extending through 2028.

At the heart of BofA’s repositioning lies Figure Connect, the company’s consumer credit marketplace, which delivered 65% of total volumes in the second quarter of 2026 and posted a 132% year-over-year volume expansion during that period. Such results helped validate the belief that Figure’s blockchain-based infrastructure is building lasting momentum in both origination and secondary-market activity, nudging the analyst community’s aggregate ratings to six buys with only one sell still on the books.

The upgrade comes amid a risk-off tone across equity markets, as the S&P 500, Dow Jones, and Nasdaq each traded lower on the session. That FIGR climbed in pre-market trading despite this headwind signals that the lift is tied to the idiosyncratic catalyst rather than a rising tide of macro sentiment. Even after the gain, the stock resides far beneath its 52-week peak of $78, implying additional recovery potential should the growth thesis keep gathering strength.

In sum, a prominent U-turn by one of Wall Street’s major financial institutions—shifting from underperform to neutral and hiking its target by $18—coupled with the evident robustness of Figure Connect’s volume statistics, furnished a direct and instant catalyst for the pre-market advance.

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