Figma (NYSE:FIG) Given “Overweight” Rating at Piper Sandler

Figma (NYSE:FIG)‘s stock had its “overweight” rating reissued by equities researchers at Piper Sandler in a research report issued on Thursday,Benzinga reports. They currently have a $30.00 target price on the stock. Piper Sandler’s target price indicates a potential upside of 60.77% from the company’s previous close.

Several other research analysts also recently commented on the stock. Citigroup began coverage on shares of Figma in a report on Wednesday, June 17th. They issued a “buy” rating and a $36.00 price target for the company. Royal Bank Of Canada decreased their price target on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating on the stock in a report on Friday, May 15th. JPMorgan Chase & Co. lowered their price objective on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, May 15th. Morgan Stanley dropped their price objective on Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.33.

Figma Stock Down 1.7%

Shares of FIG opened at $18.66 on Thursday. Figma has a twelve month low of $16.60 and a twelve month high of $142.92. The stock has a market cap of $8.32 billion and a PE ratio of -5.44. The business’s 50-day moving average price is $20.35 and its 200-day moving average price is $25.94.

Figma (NYSE:FIG) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.27. The company 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 business’s quarterly revenue was up 46.1% compared to the same quarter last year. Analysts expect that Figma will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at Figma

In other news, CFO Praveer Melwani sold 83,974 shares of Figma stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total transaction of $1,912,087.98. Following the completion of the sale, the chief financial officer directly owned 1,749,024 shares of the company’s stock, valued at approximately $39,825,276.48. The trade was a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 87,510 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total transaction of $2,013,605.10. Following the completion of the transaction, the executive owned 1,781,380 shares of the company’s stock, valued at $40,989,553.80. This trade represents a 4.68% 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. Over the last ninety days, insiders have sold 694,220 shares of company stock worth $17,023,005. Company insiders own 45.20% of the company’s stock.

Institutional Investors Weigh In On Figma

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Figma by 3,890.0% during the 1st quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after purchasing an additional 1,167 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Figma in the 3rd quarter worth approximately $26,000. DV Equities LLC purchased a new stake in Figma in the fourth quarter worth approximately $26,000. Concord Wealth Partners grew its position in Figma by 1,446.8% during the fourth 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. grew its position in Figma by 1,568.2% during the fourth 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 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.