Figma, Inc. (NYSE:FIG) Stock Has Consensus Target Price of $32.56 According to Analysts

Shares of Figma, Inc. (NYSE:FIG) have been given a consensus recommendation of “Hold” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.56.

Several equities research analysts have recently issued reports on FIG shares. Bank of America lifted their price objective on shares of Figma from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Piper Sandler restated an “overweight” rating and set a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. Weiss Ratings cut shares of Figma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. Morgan Stanley set a $33.00 price target on shares of Figma in a report on Thursday, August 6th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Figma in a research note on Thursday, June 25th.

Figma Stock Up 2.2%

Shares of Figma stock opened at $21.47 on Tuesday. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of -5.90 and a beta of 1.33. The stock’s 50-day simple moving average is $24.40 and its 200-day simple moving average is $22.16. Figma has a 52 week low of $16.60 and a 52 week high of $71.48.

Figma (NYSE:FIG) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The firm had revenue of $370.08 million during the quarter. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, equities analysts expect that Figma will post -0.75 earnings per share for the current year.

Insider Transactions at Figma

In related news, CRO Shaunt Voskanian sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $27.91, for a total value of $837,300.00. Following the sale, the executive directly owned 1,698,620 shares in the company, valued at approximately $47,408,484.20. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Mulligan sold 211,599 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $29.79, for a total value of $6,303,534.21. Following the transaction, the general counsel directly owned 727,952 shares of the company’s stock, valued at approximately $21,685,690.08. The trade was a 22.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,332,269 shares of company stock worth $34,624,827. 32.26% of the stock is currently owned by company insiders.

Institutional Trading of Figma

Several hedge funds have recently modified their holdings of the company. Amova Asset Management Americas Inc. lifted its position in Figma by 641.4% during the first quarter. Amova Asset Management Americas Inc. now owns 1,467,887 shares of the company’s stock valued at $31,031,000 after purchasing an additional 1,269,900 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Figma by 1,670.9% in the 4th quarter. Ieq Capital LLC now owns 973,880 shares of the company’s stock worth $36,394,000 after buying an additional 918,886 shares during the last quarter. Greylock XIV GP LLC bought a new stake in shares of Figma in the 2nd quarter worth about $1,056,824,403. Rokos Capital Management LLP purchased a new stake in shares of Figma during the 1st quarter valued at about $4,414,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Figma during the 1st quarter valued at about $3,429,000.

Figma Company Profile

Figma, Inc is a collaborative software company that provides browser-based tools for designing, prototyping and developing digital products. Its platform enables product designers, developers, researchers, marketers and other stakeholders to work together on user interfaces and digital experiences in real time.

The company’s product portfolio includes Figma Design for interface design and prototyping, FigJam for collaborative brainstorming and whiteboarding, and Dev Mode, which helps developers inspect designs and translate them into working products.