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Investing.com - William Blair initiated coverage on Figma Inc (NYSE:FIG) with an Outperform rating on Monday. The company, currently valued at $38.7 billion, is scheduled to report its next earnings on September 3.
The research firm identified Figma as "the leader in UI/UX design by a country mile," noting the company has established a dominant position in the user interface and user experience design market since launching Figma Design in 2015. InvestingPro data reveals impressive gross profit margins of 88.5%, though current valuations suggest the stock may be overvalued.
William Blair highlighted Figma’s substantial user base, which includes 450,000 customers and 13 million monthly active users (MAUs), demonstrating the company’s strong market penetration.
The firm credited Figma with revolutionizing the design market through its collaborative, multiplayer offering that is accessible via web browsers, which has helped break down barriers between design and development processes.
In its analysis, William Blair stated that Figma has become "the standard platform for design" and sees "no second-place competitor that is even close to Figma’s ubiquity, market share, or feature functionality."
In other recent news, Figma Inc has garnered attention from several major financial institutions as they initiate coverage on the company’s stock. Wells Fargo has given Figma an Equal Weight rating with a price target of $82, noting the company’s high enterprise value to sales ratio based on 2026 estimates. Wolfe Research has assigned a Peerperform rating, highlighting Figma’s strong growth rate of 46% and high customer retention rates, setting a fair value range of $15 to $70. Morgan Stanley also initiated coverage with an Equalweight rating and an $80 price target, emphasizing Figma’s competitive edge in real-time collaboration for digital product development. Goldman Sachs provided a Neutral rating with a $48 price target, describing Figma as a "generational design tool" that is becoming an end-to-end product development platform. Lastly, JPMorgan initiated coverage with a Neutral rating and a $65 price target, acknowledging Figma’s role as a central platform for design-related workflows. These recent developments reflect a broad interest in Figma’s market position and growth potential.
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