Wall Street Zen upgraded Figma (NYSE:FIG) from a "sell" to a "hold" rating on Sunday.

The upgrade precedes the company's fourth-quarter and full-year 2025 earnings report.

Figma will announce the earnings report on February 18, 2026.

Other recent analyst actions on Figma were mixed.

JPMorgan Chase & Co. maintained a "neutral" rating but lowered its price target to $60.00.

Barclays upgraded the stock to "neutral."

Goldman Sachs Group initiated coverage with a "neutral" rating.

Stifel Nicolaus initiated coverage with a "hold" rating.