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

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 price target 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 points to a potential upside of 22.23% from the stock's current price.

FIG has been the subject of several other research reports. Bank of America cut their target price on Figma from $85.00 to $69.00 and set a "buy" rating for the company in a research report on Thursday. Morgan Stanley reduced their price objective on Figma from $80.00 to $70.00 and set an "equal weight" rating for the company in a research report on Thursday. Piper Sandler initiated coverage on Figma in a research note on Thursday. They issued an "overweight" rating and a $85.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Figma in a research note on Monday, August 25th. They set a "neutral" rating and a $48.00 target price on the stock. Finally, William Blair assumed coverage on Figma in a research note on Monday, August 25th. They set an "outperform" rating on the stock. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $67.43.

Figma Price Performance

FIG stock traded down $1.68 during mid-day trading on Thursday, hitting $53.18. 6,426,012 shares of the company were exchanged, compared to its average volume of 12,991,246. The firm has a market cap of $21.81 billion and a P/E ratio of 71.86. Figma has a twelve month low of $50.49 and a twelve month high of $142.92.

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 the consensus estimate of $0.08 by ($0.15). The firm had revenue of $249.64 million during the quarter, compared to analyst estimates of $248.97 million. Figma has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Insiders Place Their Bets

In other Figma news, Director Daniel H. Rimer sold 3,293,276 shares of the firm's 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 transaction, the director owned 834,800 shares of the company's stock, valued at approximately $26,312,896. This trade represents a 79.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 3,187,765 shares of the firm'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 $100,478,352.80. Following the completion of the sale, the insider owned 55,810,810 shares in the company, valued at $1,759,156,731.20. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 312,500 shares of company stock valued at $10,312,500 and have sold 19,617,451 shares valued at $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.