Royal Bank Of Canada Cuts Figma (NYSE:FIG) Price Target to $65.00

Key Points

• Royal Bank of Canada has reduced Figma's (NYSE:FIG) price target from $75.00 to $65.00, suggesting a potential downside of 4.64% from its previous close.
• Multiple analysts have varied opinions on Figma, with Piper Sandler giving it an "overweight" rating and an $85.00 price target, while Morgan Stanley set a lower target of $70.00.
• Figma recently reported a earnings miss, with an EPS of (0.07) against a consensus estimate of 0.08, but revenue exceeded expectations at $249.64 million.

Figma (NYSE:FIG - Get Free Report) had its target price reduced by stock analysts at Royal Bank Of Canada from $75.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential downside of 4.64% from the stock's previous close.

FIG has been the subject of a number of other reports. Piper Sandler began coverage on Figma in a report on Thursday. They issued an "overweight" rating and a $85.00 price objective for the company. Wall Street Zen raised Figma to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley decreased their price objective on Figma from $80.00 to $70.00 and set an "equal weight" rating for the company in a report on Thursday. William Blair assumed coverage on Figma in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Finally, JPMorgan Chase & Co. assumed coverage on Figma in a research report on Monday, August 25th. They issued a "neutral" rating and a $65.00 target price 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 stock presently has a consensus rating of "Hold" and a consensus price target of $67.43.

Figma Stock Performance

Shares of NYSE FIG opened at $68.16 on Thursday. The company has a market cap of $33.23 billion and a price-to-earnings ratio of 92.11. Figma has a 52-week low of $64.55 and a 52-week high of $142.92.

Figma (NYSE:FIG - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.15). The firm had revenue of $249.64 million during the quarter, compared to the consensus estimate of $248.97 million. Figma has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Insider Activity at Figma

In other news, Director Daniel H. Rimer sold 3,293,276 shares of the stock in a transaction on Friday, August 1st. The stock was 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 owned 834,800 shares in the company, valued at approximately $26,312,896. This represents a 79.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Shaunt Voskanian sold 90,000 shares of the stock in a transaction 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 owned 1,681,300 shares of the company's stock, valued at $52,994,576. This trade represents a 5.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 312,500 shares of company stock worth $10,312,500 and have sold 19,617,451 shares worth $618,294,215.

About Figma

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.

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