Figma (NYSE:FIG) Rating Increased to Strong-Buy at Citigroup

Citigroup upgraded shares of Figma (NYSE:FIG) to a strong-buy rating in a report published on Wednesday morning, MarketBeat Ratings reports.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. reduced their target price on Figma from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Figma in a research report on Tuesday, May 19th. Oppenheimer started coverage on Figma in a research report on Wednesday, March 25th. They issued a “market perform” rating for the company. Morgan Stanley decreased their price target on shares of Figma from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, May 15th. Finally, The Goldman Sachs Group set a $35.00 price objective on shares of Figma in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Figma presently has an average rating of “Hold” and a consensus target price of $38.33.

Figma Price Performance

Shares of Figma stock opened at $18.88 on Wednesday. Figma has a 1 year low of $16.60 and a 1 year high of $142.92. The firm has a market cap of $8.41 billion and a PE ratio of -5.50. The company has a 50 day simple moving average of $20.37 and a two-hundred day simple moving average of $26.45.

Figma (NYSE:FIG) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.27. Figma had a negative net margin of 123.83% and a negative return on equity of 98.51%. The firm had revenue of $333.44 million for the quarter. Figma’s revenue for the quarter was up 46.1% on a year-over-year basis. As a group, research analysts anticipate that Figma will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CRO Shaunt Voskanian sold 87,510 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $23.01, for a total value of $2,013,605.10. Following the sale, the executive directly owned 1,781,380 shares of the company’s stock, valued at $40,989,553.80. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $22.77, for a total value of $1,912,087.98. Following the transaction, the chief financial officer owned 1,749,024 shares in the company, valued at approximately $39,825,276.48. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 694,220 shares of company stock worth $17,023,005. 45.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Figma

A number of large investors have recently made changes to their positions in FIG. Parallel Advisors LLC raised its holdings in shares of Figma by 3,890.0% during the first quarter. Parallel Advisors LLC now owns 1,197 shares of the company’s stock valued at $25,000 after acquiring an additional 1,167 shares in the last quarter. J. Derek Lewis & Associates Inc. raised its holdings in Figma by 58.6% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 20,300 shares of the company’s stock worth $429,000 after purchasing an additional 7,500 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Figma by 428.1% in the 1st quarter. Bank of America Corp DE now owns 4,180,575 shares of the company’s stock worth $88,377,000 after purchasing an additional 3,388,902 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Figma by 287.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,225 shares of the company’s stock valued at $47,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Figma by 37.8% during the first quarter. Royal Bank of Canada now owns 94,704 shares of the company’s stock valued at $2,002,000 after buying an additional 25,957 shares during the period.

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.