Morgan Stanley Cuts Figma Price Target to $38, Maintains Equal Weight
Morgan Stanley reduced its price target on Figma (FIG) from $44 to $38, while maintaining an Equal Weight rating. The revision comes amid concerns about paid customer conversion and seat expansion, and the stock is among the worst-performing AI names under $30.
Key Numbers
Morgan Stanley lowered its price target on Figma Inc. (NYSE:FIG) from $44 to $38, while maintaining an Equal Weight rating on the stock. The revision comes as Figma is listed among the 10 worst artificial intelligence stocks under $30 according to short sellers.
Rating Change
- Previous Price Target: $44
- New Price Target: $38
- Rating: Equal Weight (unchanged)
- Date of Change: May 15, 2026
Analyst Rationale
Morgan Stanley analysts informed investors that the cut is driven by concerns over paid customer conversion rates and seat expansion. No further details were provided on the potential impact on future revenue.
Context
This price target reduction occurs amid significant short interest in Figma, which ranks among the most shorted AI stocks under $30. No other analysts have commented on the stock recently.
Conclusion
The lowered price target reflects Morgan Stanley's caution regarding Figma's near-term growth prospects, particularly in customer conversion and usage expansion. However, maintaining an Equal Weight rating suggests the bank does not see above-average risk.
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