Core Insights - Figma, Inc. reported mixed second-quarter results, with earnings of zero cents per share, missing the analyst estimate of 18 cents, while quarterly revenue reached $249.64 million, surpassing the Street estimate of $228.2 million and increasing from $177.19 million year-over-year [1][2] Financial Performance - Quarterly earnings were zero cents per share, missing the expected 18 cents [1] - Quarterly revenue was $249.64 million, exceeding the estimate of $228.2 million and up from $177.19 million in the same quarter last year [1] - For the third quarter, Figma expects revenue between $263 million and $265 million, and for the full year, revenue is projected between $1.021 billion and $1.025 billion, indicating a 37% year-over-year growth at the midpoint [2] Stock Performance - Following the earnings announcement, Figma shares fell by 18.5%, trading at $55.44 [2] - Analysts adjusted their price targets for Figma, with Wells Fargo lowering it from $82 to $70, RBC Capital from $75 to $65, and Morgan Stanley from $80 to $70, while maintaining their ratings [4]
These Analysts Cut Their Forecasts On Figma Following Q2 Results