Figma Inc. (NYSE:FIG) shares plunged nearly 19% Thursday following the release of its second-quarter results after Wednesday’s market close.
The company posted revenue of $249.64 million, significantly surpassing the consensus estimate of $228.2 million. This represents a 41% year-over-year increase from $177.20 million in the same quarter last year.
Adjusted earnings for the quarter were 8 cents per share, missing the consensus estimate of 18 cents per share, but reflecting an increase over the 7 cents per share reported in the year-ago quarter.
On a GAAP basis, Figma reported break-even earnings, a notable turnaround from the $4.39 per share loss in the prior-year period.
Looking forward, Figma provided an optimistic revenue outlook for fiscal 2025, forecasting a range between $1.021 billion and $1.025 billion, exceeding the $1.009 billion Street consensus.
For the third quarter of 2025, Figma projects revenues to range from $263 million to $265 million, well above the consensus of $248.78 million.
Several analysts have updated their ratings on Figma following the earnings report.
RBC Capital’s Rishi Jaluria maintained a Sector Perform rating but reduced the price forecast from $75 to $65.
Wells Fargo’s Michael Turrin reiterated an Equal-Weight rating and lowered the price forecast from $82 to $70.
In contrast, Piper Sandler’s Brent Bracelin initiated coverage with an Overweight rating and set a price forecast of $85.
Price Action: FIG stock is trading lower by 18.5% to $55.50 at last check Thursday.
Read Next:
Photo by rblfmr via Shutterstock
Date | Firm | Action | From | To |
|---|---|---|---|---|
Mar 2017 | JMP Securities | Downgrades | Market Outperform | Market Perform |
Oct 2016 | Keefe, Bruyette & Woods | Maintains | Market Perform | |
Jul 2016 | Keefe, Bruyette & Woods | Downgrades | Outperform | Market Perform |
View More Analyst Ratings for FIG
View the Latest Analyst Ratings
UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
Get the latest stock analysis from Benzinga?
This article Why Is Figma Stock Plunging Thursday? originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
finance.yahoo.com
#Figma #Stock #Plunging #Thursday
