Figma (NYSE:FIG) Shares Up 7.8% – Still a Buy?

Figma, Inc. (NYSE:FIG) shares rose 7.8% during mid-day trading on Friday . The company traded as high as $18.23 and last traded at $18.1470. Approximately 9,042,106 shares were traded during trading, a decline of 46% from the average daily volume of 16,703,637 shares. The stock had previously closed at $16.84.

Wall Street Analysts Forecast Growth

FIG has been the subject of a number of recent analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $36.00 price target on shares of Figma in a report on Friday. Royal Bank Of Canada reduced their target price on Figma from $28.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $30.00 price target on shares of Figma in a research note on Thursday. 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, Morgan Stanley decreased their price target on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Figma has an average rating of “Hold” and a consensus target price of $37.00.

Figma Stock Up 5.8%

The business’s 50 day moving average is $20.32 and its two-hundred day moving average is $25.79. The firm has a market capitalization of $7.94 billion and a P/E ratio of -5.17.

Figma (NYSE:FIG) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. The company had revenue of $333.44 million for the quarter. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. As a group, equities analysts anticipate that Figma, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at Figma

In other Figma news, CEO Dylan Field sold 174,430 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.02, for a total value of $4,364,238.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Shaunt Voskanian sold 87,510 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $23.01, for a total value of $2,013,605.10. Following the transaction, the executive directly owned 1,781,380 shares of the company’s stock, valued at approximately $40,989,553.80. The trade was a 4.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 694,220 shares of company stock valued at $17,023,005 over the last three months. 45.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Figma

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new stake in Figma in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Figma in the 3rd quarter worth approximately $27,000. Sunbelt Securities Inc. acquired a new stake in Figma during the third quarter valued at approximately $30,000. US Bancorp DE acquired a new stake in Figma during the third quarter valued at approximately $31,000. Finally, Montag A & Associates Inc. bought a new stake in Figma during the third quarter worth approximately $33,000.

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.