Piper Sandler analyst Brent Bracelin initiated coverage of Figma (FIG) with an Overweight rating and $85 price target The company combines a “differentiated” platform with an “attractive” business model, the analyst tells investors in a research note. The firm believes Figma, despite approaching $1B in annual recurring revenue, is in the early stages of building an end-to-end platform optimized to turn ideas into digital products for companies of all sizes. It sees favorable secular tailwinds driving the company’s ARR to $3B by 2030.
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