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Figure's Q3 performance significantly exceeded expectations, with tokenization loans driving the potential for a rise in stock prices.

According to a report from The Block on November 14, the blockchain loan platform Figure performed well in the third quarter, with adjusted revenue of approximately $156 million, exceeding market expectations by 30%; adjusted EBITDA reached $86 million, surpassing expectations by 60%. The total loan amount increased by 34% quarter-over-quarter to $2.5 billion, with blockchain-based cooperative channel loans accounting for 76%. The transaction volume on the Figure Connect platform rose by 48% quarter-over-quarter to $1.1 billion. Bernstein analysts maintained an “outperform” rating, with a target price of $54, representing a 56% upside from the current stock price. Figure's founder Mike Cagney co-founded SoFi, which has become the leading non-bank home equity line of credit issuer in the United States.

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