William Blair analyst Arjun Bhatia has maintained their bullish stance on FIG stock, giving a Buy rating on November 6.
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Arjun Bhatia’s rating is based on several compelling factors that emerged from a recent investor meeting with Figma’s Vice President of Investor Relations, Kate DeLeo. One of the primary reasons for the Buy rating is the strong momentum Figma is experiencing with its Make product, which is quickly gaining traction in the market.
Additionally, Figma’s strategic positioning in the competitive landscape, particularly against major players like Adobe, is noteworthy. The company’s current investment cycle and its potential to effectively monetize new user segments, such as developers and marketers, further bolster confidence in its growth prospects. These elements collectively contribute to Arjun Bhatia’s positive outlook on Figma’s stock.
In another report released on November 6, Piper Sandler also maintained a Buy rating on the stock with a $70.00 price target.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FIG in relation to earlier this year.