Figma, Inc. (NYSE:FIG) Receives $62.86 Consensus Target Price from Analysts

Figma, Inc. (NYSE:FIG) has received an average rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $62.8571.

Several equities analysts recently issued reports on FIG shares. Wolfe Research assumed coverage on Figma in a research report on Monday, August 25th. They set a “peer perform” rating on the stock. Piper Sandler lowered their price objective on Figma from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. William Blair restated an “outperform” rating on shares of Figma in a report on Thursday, September 4th. Royal Bank Of Canada decreased their target price on shares of Figma from $75.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 4th. Finally, Bank of America lowered their price target on shares of Figma from $85.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, September 4th.

Figma Stock Performance

FIG stock opened at $37.96 on Wednesday. The firm’s fifty day simple moving average is $47.86. Figma has a 52 week low of $32.83 and a 52 week high of $142.92.

Figma (NYSE:FIG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.56) by $1.66. The business had revenue of $274.17 million for the quarter. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS.

Insider Buying and Selling

In other Figma news, CRO Shaunt Voskanian sold 6,305 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $36.68, for a total value of $231,267.40. Following the completion of the sale, the executive owned 1,604,945 shares in the company, valued at approximately $58,869,382.60. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Tyler Herb sold 2,310 shares of Figma stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $36.60, for a total value of $84,546.00. Following the completion of the sale, the chief accounting officer owned 203,406 shares in the company, valued at approximately $7,444,659.60. This represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,598,389 shares of company stock valued at $177,416,670 over the last ninety days. Corporate insiders own 45.20% of the company’s stock.

Institutional Trading of Figma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIG. Whittier Trust Co. of Nevada Inc. bought a new position in Figma in the 3rd quarter worth $26,000. NewEdge Advisors LLC bought a new stake in shares of Figma during the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in Figma in the third quarter worth about $27,000. Sunbelt Securities Inc. bought a new position in Figma in the third quarter worth about $30,000. Finally, US Bancorp DE purchased a new stake in Figma in the third quarter worth about $31,000.

About Figma

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb.