Marina Lyubimova
⬤ Figma shares surged in premarket trading following a major analyst upgrade, with FIG climbing from $37.26 to around $37.83—a 1.5% gain. The move came after Wells Fargo upgraded the stock to Overweight from Equal Weight and introduced a $52 price target. The upgrade signals renewed confidence in Figma's long-term prospects within the software and GenAI landscape.
⬤ Wells Fargo pointed out that FIG shares have plummeted over 70% from post-IPO peaks, even as the Nasdaq rallied during the same timeframe. The firm acknowledged this decline reflected market uncertainty about where Figma fits between the generative AI boom and traditional software categories. Despite this confusion, Wells Fargo believes Figma deserves a premium valuation thanks to its dominant position in product design and history of efficient growth.
⬤ The upgrade highlighted Figma's product innovation and expansion opportunities. Analysts praised the company's product lineup and its ability to drive customer growth across its design platform. Wells Fargo also noted growing evidence that Figma could deliver real GenAI-powered value starting in 2026, particularly through its Make product. These factors drove the decision to raise the rating and establish a higher valuation framework.
Marina Lyubimova
