Morgan Stanley lowered the firm’s price target on Figma (FIG) to $70 from $80 and keeps an Equal Weight rating on the shares. Revenue growth sustained above 40% year-over-year in Q2, but Q3 and FY25 guidance for growth of 33% and 36.5% year-over-year, respectively, likely fell short of buyside expectations, the analyst tells investors. The firm continues to view Figma as a market-leading platform in design and “uniquely positioned for GenAI,” but adds that the valuation limits the near-term risk/reward.
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