Figma (NYSE:FIG) Given New $69.00 Price Target at Bank of America

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 reduced by Bank of America from $85.00 to $69.00 in a research note published on Thursday, Marketbeat Ratings reports. Bank of America currently has a buy rating on the stock.

Several other equities research analysts also recently commented on FIG. 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 note on Thursday. Wall Street Zen raised shares of Figma to a "hold" rating in a research note on Saturday, August 9th. The Goldman Sachs Group assumed coverage on shares of Figma in a research note on Monday, August 25th. They set a "neutral" rating and a $48.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Figma in a research note on Monday, August 25th. They set an "equal weight" rating and a $82.00 price objective for the company. Finally, William Blair initiated coverage on shares of Figma in a report on Monday, August 25th. They issued an "outperform" rating on the stock. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $67.43.

Figma Trading Down 3.1%

NYSE FIG traded down $1.68 on Thursday, hitting $53.18. The stock had a trading volume of 6,426,012 shares, compared to its average volume of 12,991,246. Figma has a 52-week low of $50.49 and a 52-week high of $142.92. The firm has a market capitalization of $21.81 billion and a P/E ratio of 71.86.

Figma (NYSE:FIG - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.15). The business 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 at Figma

In other Figma news, CRO Shaunt Voskanian sold 90,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $31.52, for a total value of $2,836,800.00. Following the sale, the executive directly owned 1,681,300 shares of the company's stock, valued at approximately $52,994,576. This represents a 5.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel H. Rimer sold 3,293,276 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $31.52, for a total transaction of $103,804,059.52. Following the completion of the sale, the director directly owned 834,800 shares in the company, valued at approximately $26,312,896. This represents a 79.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 312,500 shares of company stock worth $10,312,500 and sold 19,617,451 shares worth $618,294,215.

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.