Brokerages Set Figma, Inc. (NYSE:FIG) Target Price at $32.67

Shares of Figma, Inc. (NYSE:FIG) have earned an average recommendation of “Hold” from the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $32.6667.

A number of research analysts have recently weighed in on FIG shares. Royal Bank Of Canada dropped their price target on Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, June 25th. Oppenheimer reiterated a “market perform” rating on shares of Figma in a research report on Thursday, June 25th. Wells Fargo & Company lowered their price objective on shares of Figma from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Bank of America assumed coverage on shares of Figma in a report on Tuesday, July 7th. They set a “buy” rating and a $30.00 target price for the company. Finally, Stifel Nicolaus set a $25.00 target price on shares of Figma in a research report on Friday, May 15th.

Figma Price Performance

FIG opened at $24.06 on Thursday. The stock has a market cap of $10.72 billion and a P/E ratio of -7.02. The stock’s 50 day simple moving average is $21.28 and its 200 day simple moving average is $23.85. Figma has a 1-year low of $16.60 and a 1-year high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings data 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 firm had revenue of $333.44 million during the quarter. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The firm’s quarterly revenue was up 46.1% on a year-over-year basis. Research analysts expect that Figma will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling at Figma

In related news, General Counsel Brendan Mulligan sold 18,741 shares of Figma stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $25.04, for a total transaction of $469,274.64. Following the completion of the transaction, the general counsel directly owned 987,986 shares in the company, valued at $24,739,169.44. The trade was a 1.86% 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, CEO Dylan Field sold 174,430 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.02, for a total value of $4,364,238.60. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 733,309 shares of company stock worth $17,824,756. 32.26% of the stock is currently owned by insiders.

Institutional Trading of Figma

Large investors have recently made changes to their positions in the stock. Fluent Financial LLC purchased a new stake in Figma during the 2nd quarter worth about $765,000. Valeo Financial Advisors LLC purchased a new position in Figma in the 2nd quarter valued at about $203,000. Parallel Advisors LLC boosted its stake 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 worth $25,000 after purchasing an additional 1,167 shares during the last quarter. J. Derek Lewis & Associates Inc. boosted its stake in shares of Figma by 58.6% during the 1st quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company’s stock worth $429,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Figma by 428.1% during the first quarter. Bank of America Corp DE now owns 4,180,575 shares of the company’s stock worth $88,377,000 after buying an additional 3,388,902 shares in the last quarter.

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.