Figma initiated with a Perform at Oppenheimer

Oppenheimer initiated coverage of Figma (FIG) with a Perform rating without a price target The company has a “leading product in the digital design market, a compelling value proposition, and an enviable growth trajectory in software,” the analyst tells investors in a research note. However, the firm is concerned the industry’s structural shift to AI technologies will moderate deal size and subscriber growth. This will slow Figma’s growth while the company’s AI disruption risk is understated at current valuation levels, contends Oppenheimer.