Figma (NYSE:FIG) Price Target Cut to $70.00 by Analysts at Wells Fargo & Company

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 price objective decreased by investment analysts at Wells Fargo & Company from $82.00 to $70.00 in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 31.63% from the company's current price.

Other research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Figma to a "hold" rating in a research report on Saturday, August 9th. Wolfe Research assumed coverage on shares of Figma in a research report on Monday, August 25th. They set a "peer perform" rating on the stock. Royal Bank Of Canada assumed coverage on shares of Figma in a research report on Monday, August 25th. They set a "sector perform" rating and a $75.00 price objective on the stock. Bank of America lowered their price objective on shares of Figma from $85.00 to $69.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Piper Sandler assumed coverage on shares of Figma in a research report on Thursday. They set an "overweight" rating and a $85.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $67.43.

Figma Price Performance

Shares of NYSE FIG traded down $1.68 during mid-day trading on Thursday, reaching $53.18. The company had a trading volume of 6,426,012 shares, compared to its average volume of 12,991,246. The company has a market capitalization of $21.81 billion and a price-to-earnings ratio of 71.86. Figma has a 52-week low of $50.49 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 analysts' consensus estimates of $0.08 by ($0.15). The company had revenue of $249.64 million for the quarter, compared to analysts' expectations of $248.97 million. Figma has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Insider Buying and Selling

In related news, major shareholder Perkins Caufield & Bye Kleiner sold 87,366 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $31.52, for a total value of $2,753,776.32. Following the completion of the sale, the insider owned 1,559,622 shares in the company, valued at $49,159,285.44. This trade represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel H. Rimer sold 3,293,276 shares of the firm's stock in a transaction dated 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 owned 834,800 shares of the company's stock, valued at $26,312,896. This trade represents a 79.78% 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.

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.