Movement Alert｜Figma Rises 5.66% in Regular Trading, BofA Raises Target Price Amid Software Sector Valuation Recovery

Market Focus08-27 21:45

On August 27, Figma rose 5.66% in regular trading, trading at $29.05/share, with turnover of $118 million. The rally was driven by Bank of America's analyst team raising Figma's target price from $30 to $33 while maintaining a Buy rating.

BofA cited expanding valuation multiples across the software industry and receding market concerns about AI disrupting traditional software companies as key reasons for the upgrade. The firm simultaneously raised target prices on 10 software stocks including ServiceNow, Snowflake, and Adobe. Figma's Q2 earnings previously showed revenue surging 48% year-over-year to $370.1 million, beating the consensus estimate of $351.6 million, with the company also raising full-year revenue guidance to $1.463-$1.467 billion versus analyst expectations of $1.44 billion.

However, heavy AI investment led to a GAAP operating loss widening to $117 million and free cash flow margin declining from 24% to 14% year-over-year, which had pressured shares following the earnings release. The current rebound reflects the market repricing Figma's growth trajectory as profitability concerns ease at the sector level.

(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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