JPMorgan Chase & Co. Cuts Figma (NYSE:FIG) Price Target to $60.00

Figma (NYSE:FIG) had its price objective cut by JPMorgan Chase & Co. from $65.00 to $60.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley cut their price target on Figma from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, September 4th. Wells Fargo & Company cut their target price on Figma from $70.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Weiss Ratings started coverage on Figma in a research report on Friday, October 24th. They set a “sell (d)” rating for the company. William Blair reissued an “outperform” rating on shares of Figma in a report on Thursday, September 4th. Finally, Wall Street Zen upgraded shares of Figma to a “hold” rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Figma has an average rating of “Hold” and a consensus target price of $62.86.

Figma Trading Down 4.1%

Shares of NYSE FIG opened at $44.11 on Thursday. Figma has a 1-year low of $43.00 and a 1-year high of $142.92. The stock has a fifty day moving average of $55.46.

Figma (NYSE:FIG) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($1.56) by $1.66. The firm had revenue of $274.17 million for the quarter. During the same period in the prior year, the company earned $0.04 EPS. The business’s revenue was up 38.0% on a year-over-year basis. Figma has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Insider Activity

In other news, CFO Praveer Melwani sold 16,092 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $48.17, for a total transaction of $775,151.64. Following the completion of the transaction, the chief financial officer owned 1,637,450 shares in the company, valued at approximately $78,875,966.50. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Tyler Herb sold 3,133 shares of Figma stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $48.17, for a total transaction of $150,916.61. Following the completion of the transaction, the chief accounting officer directly owned 226,087 shares in the company, valued at $10,890,610.79. This represents a 1.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 129,230 shares of company stock valued at $6,225,009 over the last quarter. Insiders own 45.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new stake in shares of Figma during the 3rd quarter valued at $2,282,000. Alphabet Inc. purchased a new stake in shares of Figma during the third quarter valued at $11,182,000. Allen Operations LLC acquired a new position in shares of Figma in the 3rd quarter valued at $974,000. RFG Advisory LLC purchased a new position in Figma in the 3rd quarter worth about $431,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in Figma during the 3rd quarter worth about $217,000.

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.