Movement Alert｜Figma Rises 5.56% in Regular Trading, Citigroup Initiates Coverage with Buy Rating and $36 Target

Market Focus06-22

On June 22, Figma rose 5.56% in regular trading, trading at $19.865/share, with turnover of approximately $97.92 million.

On the news front, Citigroup recently initiated coverage of Figma with a Buy rating and a price target of $36, implying approximately 80% upside from the current stock price. According to FactSet, analysts have an average rating of Overweight on Figma with a mean price target of $33.57. The stock had previously declined amid a broader pullback in the application software sector, falling 5.02% on June 9 and 5.79% on June 12, and has since been in recovery mode. When the Citigroup initiation was first reported, Figma shares surged 9.1% with trading volume reaching nearly 19.3 million shares, above the daily average of approximately 18.5 million.

Figma, Inc. is an AI-powered design platform that enables seamless collaboration across the entire product development lifecycle. Its products include FigJam, Figma Slides, Figma Design, Figma Draw, Dev Mode, Figma Sites, Figma Buzz, and Figma Make. The company was founded in 2012 and is headquartered in San Francisco, CA.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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