Movement Alert｜Figma Falls 5.16% in Regular Trading, Post-Earnings Rally Fades as Multiple Banks Cut Target Prices

Market Focus05-20 21:48

On May 20, Figma fell 5.16% in regular trading, trading at approximately $22.22/share, with trading volume of $76.03 million. The decline came after the stock had rallied over 30% between May 15 and May 19 following a strong Q1 earnings beat.

On the news front, multiple investment banks lowered their price targets on Figma despite acknowledging its strong quarterly results. Morgan Stanley cut its target from $44 to $38 while maintaining an equal-weight rating, and JPMorgan reduced its target from $45 to $42. While Q1 revenue surged 46% year-over-year to $333.4 million and adjusted EPS of $0.10 significantly exceeded the $0.06 consensus, profit-taking pressure emerged after the sharp post-earnings rally. The broader application software sector also traded lower on the day, with Intuit down 3.39% and Salesforce down 1.41%, adding sector-wide headwinds to the pullback.

(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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