Piper Sandler Issues Pessimistic Forecast for Figma (NYSE:FIG) Stock Price

Figma (NYSE:FIG) had its price target dropped by analysts at Piper Sandler from $85.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 59.31% from the company’s current price.

FIG has been the topic of a number of other reports. Royal Bank Of Canada lowered their price target on Figma from $75.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, September 4th. William Blair reaffirmed an “outperform” rating on shares of Figma in a report on Thursday, September 4th. Bank of America lowered their target price on Figma from $85.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. The Goldman Sachs Group began coverage on Figma in a report on Monday, August 25th. They set a “neutral” rating and a $48.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on Figma from $70.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.71.

Figma Trading Down 4.1%

Shares of FIG opened at $43.94 on Thursday. Figma has a one year low of $43.80 and a one year high of $142.92. The company’s fifty day simple moving average is $56.48.

Figma (NYSE:FIG) last issued its quarterly 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 firm had revenue of $249.64 million during the quarter, compared to the consensus estimate of $248.97 million. Figma has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Insiders Place Their Bets

In related news, General Counsel Brendan Mulligan sold 9,526 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $48.17, for a total value of $458,867.42. Following the completion of the transaction, the general counsel owned 937,480 shares in the company, valued at $45,158,411.60. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Shaunt Voskanian sold 26,741 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $48.17, for a total value of $1,288,113.97. Following the sale, the executive owned 1,602,866 shares of the company’s stock, valued at $77,210,055.22. The trade was a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 129,230 shares of company stock worth $6,225,009 over the last three months. Company insiders own 45.20% of the company’s stock.

Hedge Funds Weigh In On Figma

Several institutional investors and hedge funds have recently bought and sold shares of FIG. Baillie Gifford & Co. purchased a new position in Figma during the 3rd quarter valued at about $154,242,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Figma during the 3rd quarter valued at about $11,075,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Figma during the 3rd quarter valued at about $8,734,000. SG Americas Securities LLC acquired a new stake in shares of Figma during the 3rd quarter valued at about $5,815,000. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of Figma during the 3rd quarter valued at about $4,425,000.

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.