Shares of Figma (FIG) are slightly down at the time of writing after Oppenheimer (OPY) started covering the stock with a Hold rating. The investment firm sees Figma as a leader in digital design software, with a strong product and clear value for customers. In fact, four-star analyst Brian Schwartz pointed to its fast growth, which has already reached a $1.22 billion revenue run rate. In addition, its web-based platform already includes AI features and is widely used by large companies for design, collaboration, and project management. This helps it stand out in the market.
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That said, there are also worries about how AI could affect Figma going forward. While the company has built a strong position through its technology, Schwartz believes that the shift toward AI could slow down customer growth and reduce how much clients spend. More importantly, newer AI-driven tools and “agentic” automation could lower the need for traditional design platforms, while also increasing competition from AI-first companies.
As a result, Figma’s competitive edge could become weaker over time. Nevertheless, the overall outlook is not clearly negative. Schwartz estimates that Figma’s total market opportunity is about $33 billion, with only a few competitors at its scale, which supports its long-term potential. However, the stock is already trading at a high valuation, around 9 times forward revenue, suggesting that strong expectations are already priced in.
Is FIG Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on FIG stock based on three Buys, seven Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average FIG price target of $40.25 per share implies 86.8% upside potential.
