Figma, Inc. (NYSE:FIG) Receives $32.67 Average Price Target from Brokerages

Figma, Inc. (NYSE:FIG) has received an average recommendation of “Hold” from the sixteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $32.6667.

A number of research analysts have weighed in on the company. Bank of America initiated coverage on Figma in a report on Tuesday, July 7th. They set a “buy” rating and a $30.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, May 15th. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research note on Friday, May 15th. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 target price on shares of Figma in a report on Thursday, June 25th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th.

Figma Trading Down 1.9%

FIG opened at $21.51 on Thursday. The company has a 50 day moving average of $21.39 and a 200 day moving average of $23.63. The company has a market cap of $9.59 billion and a PE ratio of -6.27. Figma has a 12 month low of $16.60 and a 12 month high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The business had revenue of $333.44 million during the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The company’s revenue for the quarter was up 46.1% on a year-over-year basis. Research analysts forecast that Figma will post -0.79 earnings per share for the current fiscal year.

Insider Transactions at Figma

In related news, CTO Kris Rasmussen sold 327,046 shares of Figma stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the completion of the sale, the chief technology officer owned 9,771,529 shares of the company’s stock, valued at approximately $244,972,232.03. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 18,741 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $25.04, for a total value of $469,274.64. Following the transaction, the general counsel owned 987,986 shares of the company’s stock, valued at approximately $24,739,169.44. The trade was a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 733,309 shares of company stock valued at $17,824,756. Corporate insiders own 32.26% of the company’s stock.

Institutional Trading of Figma

A number of large investors have recently modified their holdings of FIG. NewEdge Advisors LLC bought a new position in shares of Figma in the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in Figma during the third quarter valued at approximately $27,000. Sunbelt Securities Inc. purchased a new position in Figma in the 3rd quarter worth approximately $30,000. US Bancorp DE purchased a new position in Figma in the 3rd quarter worth approximately $31,000. Finally, CIBC Private Wealth Group LLC purchased a new position in Figma in the 3rd quarter worth approximately $33,000.

About Figma

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.