Wells Fargo & Company Cuts Figma (NYSE:FIG) Price Target to $70.00

Key Points

• Wells Fargo & Company has reduced its price target for Figma (NYSE:FIG) from $82.00 to $70.00, maintaining an "equal weight" rating on the stock.
• The average target price for Figma now stands at $68.86, with three analysts rating it as Buy and seven as Hold.
• Figma reported an earnings miss of ($0.07) EPS for the last quarter, falling short of the consensus estimate of $0.08.

Figma (NYSE:FIG - Get Free Report) had its target price cut by research analysts at Wells Fargo & Company from $82.00 to $70.00 in a research report issued on Thursday, Marketbeat reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 27.81% from the company's previous close.

FIG has been the topic of a number of other research reports. Morgan Stanley cut their price target on shares of Figma from $80.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday. Royal Bank Of Canada assumed coverage on shares of Figma in a report on Monday, August 25th. They set a "sector perform" rating and a $75.00 price target on the stock. Wolfe Research assumed coverage on shares of Figma in a report on Monday, August 25th. They set a "peer perform" rating on the stock. Bank of America cut their price target on shares of Figma from $85.00 to $69.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Piper Sandler assumed coverage on shares of Figma in a report on Thursday. They set an "overweight" rating and a $85.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $67.43.

Figma Price Performance

FIG stock traded up $0.21 on Thursday, hitting $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 1-year low of $50.49 and a 1-year high of $142.92. The firm has a market cap of $22.46 billion and a PE ratio of 74.01.

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 analysts' consensus estimates of $0.08 by ($0.15). The firm 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 Buying and Selling

In other Figma news, Director Mamoon Amjad Hamid sold 2,756,020 shares of the business'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 value 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 $49,159,285.44. The trade was a 63.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Shaunt Voskanian sold 90,000 shares of the business'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 $2,836,800.00. Following the completion of the sale, the executive directly owned 1,681,300 shares of the company's stock, valued at $52,994,576. This represents a 5.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 312,500 shares of company stock valued at $10,312,500 and sold 19,617,451 shares valued at $618,294,215. 45.20% of the stock is currently owned by insiders.

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.