Bank of America Cuts Figma (NYSE:FIG) Price Target to $69.00

Key Points

• Bank of America lowered its target price for Figma shares from $85.00 to $69.00, maintaining a "buy" rating despite the reduction.
• Figma's recent quarterly earnings report showed a loss of ($0.07) per share, falling short of analyst estimates, prompting further mixed ratings from various equity research firms.
• Insider activity includes significant share sales by major shareholders, with one selling over 3 million shares, reflecting a notable decrease in their ownership stakes.

Figma (NYSE:FIG - Free Report) had its price target cut by Bank of America from $85.00 to $69.00 in a research report report published on Thursday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Figma from $80.00 to $70.00 and set an "equal weight" rating for the company in a research report on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Figma in a research report on Monday, August 25th. They set a "neutral" rating and a $65.00 price objective for the company. Wall Street Zen raised shares of Figma to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada assumed coverage on shares of Figma in a research report on Monday, August 25th. They set a "sector perform" rating and a $75.00 price objective for the company. Finally, Wolfe Research began coverage on shares of Figma in a research report on Monday, August 25th. They set a "peer perform" rating for the company. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $67.43.

Figma Stock Up 0.4%

Shares of NYSE:FIG traded up $0.21 during trading on Thursday, reaching $54.77. 20,753,811 shares of the company's stock traded hands, compared to its average volume of 7,323,794. Figma has a 12 month low of $50.49 and a 12 month high of $142.92. The company has a market cap of $22.46 billion and a PE ratio of 74.01.

Figma (NYSE:FIG - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.15). The company had revenue of $249.64 million for the quarter, compared to analyst estimates of $248.97 million. Figma has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Insider Activity

In other Figma news, major shareholder Perkins Caufield & Bye Kleiner sold 2,668,654 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $84,115,974.08. Following the completion of the transaction, the insider directly owned 47,639,812 shares of the company's stock, valued at $1,501,606,874.24. The trade was a 5.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mamoon Amjad Hamid sold 2,756,020 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $31.52, for a total transaction of $86,869,750.40. Following the completion of the sale, the director directly owned 1,559,622 shares of the company's stock, valued at approximately $49,159,285.44. This represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 312,500 shares of company stock worth $10,312,500 and sold 19,617,451 shares worth $618,294,215. Company insiders own 45.20% of the company's stock.

Figma Company Profile

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.