
Shares of blockchain lender Figure Technology Solutions FIGR.O up about 11% at $44.64 in mid-day trading
Mizuho raises FIGR PT to $56 from $47, 39.2% upside to stock's last close
Brokerage says company is showing rapid growth, strong margins and operating efficiency - key indicators of scalable and profitable business
FIGR's total consumer loan volume reached $2.5 billion in Q3, up 70% year-over-year, driven by strong partner channel growth to 246 partners from 168 in S-1 filing
Company's adjusted EBITDA margin expanded to 55.4% from 44.9% a year ago
Brokerage expects stock to appreciate based on strong KPIs, scalability and margin expansion
BofA also raised FIGR's PT to $47 from $41
Six of eight brokerages rate stock "buy" or higher and two "hold"; median PT $49.75 - data compiled by LSEG
As of last close, stock was up 10.5% from IPO price since debut in September