Figure Technology Solutions (FIGR) shares plummeted 11.78% during intraday trading on Friday, extending significant losses from the pre-market session.

The sharp decline was primarily driven by the company's fourth-quarter earnings per share falling short of analyst expectations. Figure Technology reported Q4 EPS of $0.06, which missed consensus estimates that ranged from $0.08 to $0.15 according to various sources.

Adding further pressure on the stock, multiple analysts cut their price targets following the earnings report. Needham reduced its target price to $55 from $71, while Keefe Bruyette lowered its target to $55 from $62, though maintaining an Outperform rating on the shares.

The intraday plunge followed a pre-market decline of approximately 5-6% that was triggered by the earnings disappointment, with investor focus remaining squarely on the earnings miss despite the company's quarterly sales exceeding revenue estimates.