Figma, Inc. (NYSE:FIG) Receives Average Recommendation of “Hold” from Analysts

Shares of Figma, Inc. (NYSE:FIG) have received an average recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $43.25.

A number of research firms have issued reports on FIG. Stifel Nicolaus reduced their price target on Figma from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 19th. The Goldman Sachs Group set a $35.00 price target on Figma in a research report on Thursday, February 19th. Morgan Stanley set a $44.00 price target on Figma in a research report on Thursday, February 19th. Wall Street Zen raised Figma from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Figma in a research report on Thursday, February 19th.

Insider Activity

In other news, CEO Dylan Field sold 250,000 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $32.63, for a total value of $8,157,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew Phillips Reed acquired 912,749 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was acquired at an average price of $24.30 per share, for a total transaction of $22,179,800.70. Following the acquisition, the director owned 1,466,852 shares in the company, valued at approximately $35,644,503.60. The trade was a 164.73% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 1,378,811 shares of company stock worth $40,904,464. 45.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Figma in the 3rd quarter valued at about $26,000. NewEdge Advisors LLC purchased a new position in shares of Figma in the 3rd quarter valued at about $26,000. DV Equities LLC purchased a new position in shares of Figma in the 4th quarter valued at about $26,000. Concord Wealth Partners increased its holdings in shares of Figma by 1,446.8% in the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock valued at $27,000 after acquiring an additional 680 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Figma by 1,568.2% in the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after acquiring an additional 690 shares during the last quarter.

Figma Price Performance

FIG stock opened at $21.42 on Tuesday. The firm has a market capitalization of $9.45 billion and a P/E ratio of -6.86. The business’s 50-day moving average is $25.03 and its two-hundred day moving average is $37.03. Figma has a 1 year low of $19.70 and a 1 year high of $142.92.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.28. The company had revenue of $303.78 million for the quarter. Figma had a negative return on equity of 97.03% and a negative net margin of 121.87%.The firm’s quarterly revenue was up 40.1% on a year-over-year basis.

Figma Company Profile

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.