Figma (NYSE:FIG) Upgraded by The Goldman Sachs Group to “Hold” Rating

The Goldman Sachs Group upgraded shares of Figma (NYSE:FIG) to a hold rating in a report published on Monday,Zacks.com reports.

Several other brokerages have also recently commented on FIG. Weiss Ratings reissued a “sell (e+)” rating on shares of Figma in a research report on Monday, December 29th. Wells Fargo & Company raised shares of Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research report on Thursday. Piper Sandler lowered their price objective on shares of Figma from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Stifel Nicolaus began coverage on shares of Figma in a research note on Wednesday, January 7th. They issued a “hold” rating and a $40.00 target price for the company. Finally, Royal Bank Of Canada dropped their price objective on Figma from $65.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.88.

Figma Stock Down 2.4%

Shares of NYSE:FIG opened at $36.43 on Monday. The company has a 50 day moving average price of $38.32. Figma has a fifty-two week low of $32.83 and a fifty-two week high of $142.92. The firm has a market cap of $15.15 billion and a P/E ratio of -13.59.

Figma (NYSE:FIG) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.56) by $1.66. The company had revenue of $274.17 million during the quarter. Figma had a negative return on equity of 84.34% and a negative net margin of 99.32%.The firm’s revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 earnings per share.

Insiders Place Their Bets

In other Figma news, CEO Dylan Field sold 3,029,063 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $37.30, for a total transaction of $112,984,049.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Shaunt Voskanian sold 403,335 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $43.39, for a total transaction of $17,500,705.65. Following the completion of the transaction, the executive directly owned 1,617,326 shares of the company’s stock, valued at $70,175,775.14. This trade represents a 19.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,191,822 shares of company stock worth $198,725,671 over the last 90 days.

Institutional Investors Weigh In On Figma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in Figma in the third quarter valued at approximately $26,000. NewEdge Advisors LLC acquired a new stake in shares of Figma during the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Figma during the 3rd quarter valued at $27,000. Sunbelt Securities Inc. bought a new stake in Figma during the 3rd quarter worth $30,000. Finally, US Bancorp DE acquired a new position in Figma in the 3rd quarter worth about $31,000.

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.