Morgan Stanley lowered the firm’s price target on Figma (FIG) to $65 from $70 and keeps an Equal Weight rating on the shares. Figma’s first full quarter after becoming public yielded a solid set of results, and clear indications of recent investment beginning to yield, with total revenue growth exceeding consensus, the analyst tells investors in a research note. The firm noted that it has “moderated” its price target as it adjusts for peer multiples and roll forward basis year.
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