Analysts Set Figma, Inc. (NYSE:FIG) Target Price at $32.22

Figma, Inc. (NYSE:FIG) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $32.2222.

FIG has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Figma in a research note on Thursday, August 6th. Morgan Stanley set a $33.00 price target on shares of Figma in a report on Thursday, August 6th. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research report on Friday, May 15th. Piper Sandler reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Figma in a report on Thursday, June 25th. Finally, Bank of America assumed coverage on shares of Figma in a research report on Tuesday, July 7th. They issued a “buy” rating and a $30.00 target price for the company.

Insider Buying and Selling at Figma

In other Figma news, CRO Shaunt Voskanian sold 30,000 shares of Figma stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $27.91, for a total transaction of $837,300.00. Following the completion of the sale, the executive owned 1,698,620 shares of the company’s stock, valued at $47,408,484.20. The trade was a 1.74% decrease in their ownership of the stock. 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, Director Daniel H. Rimer sold 12,475 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $25.39, for a total value of $316,740.25. Following the completion of the transaction, the director owned 786,700 shares of the company’s stock, valued at $19,974,313. The trade was a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,699,859 shares of company stock valued at $42,346,644. 32.26% of the stock is currently owned by company insiders.

Institutional Trading of Figma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gladstone Capital Management LLP increased its stake in Figma by 2.9% in the 4th quarter. Gladstone Capital Management LLP now owns 17,081 shares of the company’s stock worth $638,000 after purchasing an additional 481 shares during the period. NewEdge Advisors LLC purchased a new stake in Figma in the third quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Figma in the third quarter worth about $27,000. Charles Schwab Investment Management Inc. boosted its position in Figma by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,212 shares of the company’s stock valued at $568,000 after acquiring an additional 559 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Figma during the 3rd quarter worth approximately $30,000.

Figma Stock Down 0.1%

Shares of NYSE FIG opened at $25.40 on Monday. The firm has a market capitalization of $11.56 billion and a P/E ratio of -6.98. The stock’s 50-day simple moving average is $21.85 and its two-hundred day simple moving average is $22.61. Figma has a twelve month low of $16.60 and a twelve month high of $81.00.

Figma (NYSE:FIG) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.30. Figma had a negative return on equity of 100.03% and a negative net margin of 123.15%.The firm had revenue of $370.08 million during the quarter. During the same quarter last year, the business posted $0.09 EPS. The business’s revenue was up 48.2% compared to the same quarter last year. As a group, research analysts anticipate that Figma will post -0.75 EPS for the current fiscal year.

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.