Wells Fargo Cuts Figma (FIG) Price Target to $30

Wells Fargo keeps its Overweight rating on Figma with a price target of $30, a 40.22% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:29 PM EDT

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Wells Fargo cut its price target on Figma, Inc. ($FIG) to $30 from $34 on October 13, 2026, and rates the stock "Overweight".

Since the rating, $FIG is down 1.2% to date (from the $21.76 close on Oct 13, 2026).

FIG Figma, Inc.

$21.49 -42.86% year to date

Daily close · Oct 16, 2026

Key Points

Wells Fargo reiterated its Overweight rating on Figma, Inc. and set a price target at $30 on October 13, 2026.
Wells Fargo's $30 price target implies 40.22% upside from Figma, Inc.'s ($FIG) current $21.39 share price.
Figma's stock recently traded around $21.39, which is 28.9% below the mean price target of $30.1.
The company's revenue for the past year was approximately $1.28 billion, showing a year-over-year growth of 48.2%.

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Wells Fargo has reiterated its Overweight rating on Figma, Inc. (NYSE: FIG) and set a price target of $30 as of October 13, 2026. This follows the company's notable revenue growth, which has been a driving factor behind the call.

Analyst rating track record

Wells Fargo vs. the S&P 500

YTD return -2.46% hypothetical

All-time return -2.46% S&P 500 +0.54%

vs. S&P 500 -3% behind the index

Hypothetical returns from Wells Fargo's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Figma, Inc.

Greylock Xiv Gp LLC holds 58,420,365 shares worth about $1.26 billion, with no change in its position. Index Venture Associates VI Ltd reduced its holdings by 2,848,221 shares, leaving it with 54,808,069 shares valued at approximately $1.18 billion. FMR, LLC cut its stake by 3,216,088 shares, holding 17,519,489 shares now worth about $376.5 million. Meanwhile, Price (T.Rowe) Associates Inc grew its position by 4,400,417 shares, bringing its total to 16,919,384 shares valued at around $363.6 million.

Figma, Inc. Stock Down 0.4%

Figma's stock is currently trading at $21.39 as of October 16, 2026. This price is 10.9% below its 50-day moving average of $24.00 and 10.5% below its 200-day average of $23.91. The stock is also significantly lower than its 52-week high of $58.58, being about 63.5% off that peak.

12-month forecast

$FIG price target

Figma, Inc. daily closes and this analyst's $30 target. Not advice.

Recent Earnings

Figma reported a trailing twelve-month revenue of about $1.28 billion, reflecting a year-over-year growth of 48.2%. However, the company has struggled with profitability, posting a net margin of -123.1% and a return on equity of -108.6%. The next earnings report is scheduled for November 4, 2026.

Insider Buying and Selling at Figma, Inc.

Recent insider sales include Brendan Mulligan, General Counsel, who sold 109,106 shares on September 3, 2026, valued at about $2.83 million. On the same day, Officer Tyler Herb sold 1,416 shares for approximately $37,227. Additionally, Mulligan sold 20,701 shares at an average price of $21.74 on October 5, 2026, totaling around $449,990, while Herb sold 1,418 shares for about $30,664.

Analysts Set New Price Targets

On October 13, 2026, Wells Fargo maintained its Overweight rating on Figma, setting a price target of $30. Earlier, Citigroup maintained a Buy rating with a target of $35 on July 24, 2026. The consensus among analysts is a Buy recommendation, with a mean price target of $30.1 based on 10 opinions.

About Figma, Inc.

Figma, Inc. develops a collaborative, browser-based platform for designing and prototyping digital experiences. The company’s innovative tools have gained popularity in the software application industry, which is critical as it continues to expand its market share.

Bottom Line

Investors will be watching Figma's upcoming earnings report on November 4, 2026, for further insights into its financial performance. With Wells Fargo's recent reiteration of its Overweight rating, the focus will be on how the company navigates its growth amidst ongoing challenges.