Figma Stock Sells Off As Analyst Slashes Price Target In Half
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Figma Inc (NYSE:FIG) shares fell sharply after Piper Sandler cut its price target from $70 to $35, a 50% reduction, while maintaining an Overweight rating. The stock is currently trading 32.7% below its 20-day SMA and 51.8% below its 100-day SMA, indicating a bearish trend. Figma's shares are down 12.17% at $21.08, nearing its 52-week low of $18.41. Other analysts have also lowered their targets, reflecting ongoing concerns in the software sector ahead of Figma's fourth-quarter earnings report on Feb. 18.
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