Figma, Inc. (NYSE:FIG) Receives $32.67 Consensus PT from Brokerages

Figma, Inc. (NYSE:FIG) has been given a consensus recommendation of “Hold” by the sixteen brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $32.6667.

Several analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Figma from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Bank of America started coverage on shares of Figma in a research note on Tuesday, July 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Stifel Nicolaus set a $25.00 target price on shares of Figma in a research report on Friday, May 15th. Citigroup began coverage on shares of Figma in a research note on Wednesday, June 17th. They set a “buy” rating and a $36.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating and set a $30.00 price target on shares of Figma in a report on Thursday, June 25th.

Insider Activity

In other Figma news, CFO Praveer Melwani sold 30,460 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.48, for a total value of $623,820.80. Following the transaction, the chief financial officer directly owned 1,711,526 shares of the company’s stock, valued at $35,052,052.48. This represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 8,629 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.62, for a total value of $177,929.98. Following the sale, the executive directly owned 1,764,672 shares of the company’s stock, valued at $36,387,536.64. This trade represents a 0.49% 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 quarter, insiders have sold 733,309 shares of company stock valued at $17,824,756. 32.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Figma

Several large investors have recently made changes to their positions in FIG. a16z Capital Management L.L.C. acquired a new stake in Figma in the third quarter valued at approximately $842,687,000. Viking Global Investors LP bought a new stake in Figma in the fourth quarter worth approximately $214,967,000. Durable Capital Partners LP acquired a new position in shares of Figma during the 3rd quarter worth $278,510,000. Thrive Capital Management LLC acquired a new position in shares of Figma during the 3rd quarter worth $228,034,000. Finally, Cosmic Management LLC bought a new position in shares of Figma during the 4th quarter valued at $151,535,000.

Figma Trading Up 2.7%

Shares of NYSE FIG opened at $24.04 on Thursday. Figma has a one year low of $16.60 and a one year high of $142.92. The firm has a market capitalization of $10.71 billion and a PE ratio of -7.01. The business has a 50-day moving average price of $21.20 and a two-hundred day moving average price of $24.04.

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

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.