Figma, Inc. (NYSE:FIG) Stock Has Average Target Price of $32.56 According to Analysts

Key Points

• Analysts hold a mixed view of Figma: fourteen brokerages have an average “Hold” rating, with an average 12-month price target of $32.56. Ratings include four buys, nine holds, and one sell.
• Figma reported quarterly revenue of $370.08 million, up 48.2% year over year, and posted EPS of $0.08—beating the consensus estimate of a $0.22 loss. Despite the growth, the company remains unprofitable, with a negative net margin of 123.15%.
• Figma shares opened at $20.25, well below the analyst target and their 52-week high of $71.48. Insiders sold 1.33 million shares worth approximately $34.6 million over the past three months, while several institutional investors increased or initiated positions.

Shares of Figma, Inc. (NYSE:FIG - Get Free Report) have earned an average recommendation of "Hold" from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $32.56.

A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Figma from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. KeyCorp assumed coverage on Figma in a research note on Monday, September 14th. They issued a "sector weight" rating on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $30.00 target price on shares of Figma in a research report on Thursday, June 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Figma in a research note on Thursday, August 6th. Finally, Weiss Ratings cut Figma from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, September 14th.

Insider Transactions at Figma

In other news, major shareholder Ventures Vi (Jersey) Lp Index sold 12,475 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $25.39, for a total transaction of $316,740.25. Following the transaction, the insider owned 786,700 shares in the company, valued at $19,974,313. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Tyler Herb sold 1,416 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $26.29, for a total transaction of $37,226.64. Following the transaction, the chief accounting officer owned 249,386 shares in the company, valued at $6,556,357.94. This represents a 0.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,332,269 shares of company stock valued at $34,624,827. Insiders own 32.26% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Greylock XIV GP LLC acquired a new position in Figma during the 2nd quarter valued at $1,056,824,403. SC US Ttgp LTD. grew its position in Figma by 5.8% in the 1st quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company's stock worth $565,034,000 after purchasing an additional 1,466,851 shares during the last quarter. Cosmic Management LLC acquired a new stake in Figma in the 4th quarter worth $151,535,000. Bank of America Corp DE increased its holdings in shares of Figma by 428.1% during the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company's stock worth $88,377,000 after purchasing an additional 3,388,902 shares during the period. Finally, Index Venture Growth Associates V Ltd bought a new position in shares of Figma during the 4th quarter worth about $87,780,000.

Figma Stock Performance

FIG stock opened at $20.25 on Tuesday. The firm has a 50 day simple moving average of $24.41 and a 200 day simple moving average of $22.28. Figma has a 52 week low of $16.60 and a 52 week high of $71.48. The stock has a market cap of $9.21 billion and a P/E ratio of -5.56.

Figma (NYSE:FIG - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.30. The company had revenue of $370.08 million during the quarter. Figma had a negative net margin of 123.15% and a negative return on equity of 100.03%. The firm's quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. Sell-side analysts predict that Figma will post -0.75 EPS for the current year.

Figma Company Profile

Figma, Inc develops collaborative software for designing, prototyping and building digital products. Its cloud-based platform enables product designers, developers, marketers and other stakeholders to work together in real time on user interfaces, prototypes and digital experiences.

The company's product portfolio includes Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and translate them into code.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.