Citigroup Upgrades Figma (NYSE:FIG) to Strong-Buy

Figma (NYSE:FIG) was upgraded by investment analysts at Citigroup to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on FIG. Stifel Nicolaus set a $25.00 price objective on shares of Figma in a research report on Friday, May 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research note on Tuesday, May 19th. Royal Bank Of Canada cut their price target on shares of Figma from $31.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, May 15th. Wells Fargo & Company reduced their price objective on shares of Figma from $52.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Oppenheimer initiated coverage on Figma in a report on Wednesday, March 25th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Figma has an average rating of “Hold” and a consensus target price of $38.33.

Figma Trading Up 1.2%

Shares of FIG stock opened at $18.88 on Wednesday. The company has a market capitalization of $8.41 billion and a P/E ratio of -5.50. The business’s 50 day moving average is $20.37 and its two-hundred day moving average is $26.45. Figma has a twelve month low of $16.60 and a twelve month high of $142.92.

Figma (NYSE:FIG) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.27. Figma had a negative return on equity of 98.51% and a negative net margin of 123.83%.The business had revenue of $333.44 million during the quarter. The business’s revenue was up 46.1% compared to the same quarter last year. As a group, equities analysts predict that Figma will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other Figma news, CTO Kris Rasmussen sold 327,046 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $25.07, for a total transaction of $8,199,043.22. Following the transaction, the chief technology officer directly owned 9,771,529 shares in the company, valued at approximately $244,972,232.03. This represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Praveer Melwani sold 83,974 shares of Figma stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total transaction of $1,912,087.98. Following the sale, the chief financial officer owned 1,749,024 shares of the company’s stock, valued at approximately $39,825,276.48. The trade was a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 694,220 shares of company stock valued at $17,023,005 in the last quarter. Insiders own 45.20% of the company’s stock.

Hedge Funds Weigh In On Figma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock worth $25,000 after purchasing an additional 1,167 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Figma in the third quarter valued at $26,000. DV Equities LLC acquired a new position in shares of Figma during the 4th quarter worth $26,000. Concord Wealth Partners boosted its position in shares of Figma by 1,446.8% in the 4th quarter. Concord Wealth Partners now owns 727 shares of the company’s stock worth $27,000 after buying an additional 680 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in Figma by 1,568.2% in the 4th quarter. Harbour Investments Inc. now owns 734 shares of the company’s stock valued at $27,000 after acquiring an additional 690 shares during the last quarter.

Figma News Summary

Here are the key news stories impacting Figma this week:

• Positive Sentiment: Citi launched coverage on Figma with a Buy/High-risk call and a $36 target, arguing that the company’s AI monetization opportunity is becoming clearer. Citi initiates bullish coverage on figma stock as the ai monetization story takes shape
• Positive Sentiment: Several reports note FIG rose after the Citi initiation, suggesting the upgrade is the main catalyst behind the recent rebound. Stocks making the biggest moves midday: SpaceX, JPMorgan, UniQure, Intel, Figma, Nano Nuclear & more
• Neutral Sentiment: CEO Dylan Field’s comments about AI enthusiasm in Silicon Valley reinforce the market’s focus on Figma’s positioning in the AI ecosystem, but they do not appear to be a direct business update. The Figma CEO Says AI Is Making Silicon Valley’s Billionaires Feel Like Kids Again

Figma Company Profile

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.