Figma price target lowered to $44 from $48 at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter lowered the firm’s price target on Figma (FIG) to $44 from $48 and keeps an Equal Weight rating on the shares. A 70% quarter-over-quarter increase in weekly active users of Make helped Figma reaccelerate to 40%-plus revenue growth in Q4, but material revenue revisions in the firm’s forecast are modestly offset by downward pressure on free cash flow due to “a lower operating margin posture,” the analyst tells investors in a post-earnings note.