Figma initiated with a Hold at Stifel

Stifel initiated coverage of Figma (FIG) with a Hold rating and $40 price target Figma is poised to build on its category leadership in design and the firm sees “an appealing opportunity” for share gains through a combination of net new customer acquisition, expansion through new products and recently taken pricing and packaging actions. However, despite its positive view on the company’s competitive positioning and addressable opportunity, the firm would await a more favorable risk/reward setup at the current valuation, the analyst tells investors.