Figma Inc. (NYSE:FIG) is one of the oversold stocks to buy now. On January 5, RBC Capital analyst Rishi Jaluria lowered the firm’s price target on Figma to $38 from $65 and kept a Sector Perform rating on the shares. The firm believes that 2026 will be a pivotal year where companies prepared for enterprise AI adoption experience significant growth, while those lagging may struggle against the perception that AI is making traditional software obsolete. Although management teams are issuing conservative guid ...

Core Viewpoint - Figma is positioned for a potential breakout despite its recent IPO volatility, with strong fundamentals and significant growth in AI investments [1][3][12] Company Performance - Figma's stock was initially listed at $33, peaked at $142.92 shortly after its IPO, but has since dropped to $37.33, nearly 75% below its peak [2] - The company reported a revenue increase of 38% to $274.2 million in the third quarter, with an adjusted operating income of $34 million, indicating solid profitability [10][11] Market Valuation - Figma's current market cap is approximately $19 billion, which is below the $20 billion valuation Adobe had proposed for the company four years ago [5][10] - The stock is trading at a price-to-sales ratio of roughly 15 after accounting for $1.5 billion in cash and marketable securities, which is considered reasonable compared to other software stocks [11][12] AI Investments - Figma is making significant strides in AI, launching tools like Figma Make, Figma Sites, and Figma Buzz, and acquiring Weavy, which has been rebranded as Figma Weave [8][9] - Despite initial market punishment for its AI investments, the integration of AI tools is seen as a strategic move that could enhance Figma's position in the web design software market [7][9]

Figma's market cap of $18.3 billion is notably lower than the $20 billion it had in 2022 when Adobe attempted to acquire the business. That deal was blocked by regulators due to antitrust concerns, but it provides a good baseline on the value of the business.Management continues to expand its product line and features, leading to very high net revenue retention. Last quarter, Figma's existing customers spent approx i mately 31% more on its services than they did during the same period the previous year. Thi ...

Core Insights - Figma and Autodesk are both design software providers but operate in different markets, with Figma focusing on collaborative digital product design and Autodesk on engineering and industrial design software [1] - Both companies are integrating AI into their platforms to enhance value creation, with Figma aiming to boost creative productivity and user adoption, while Autodesk focuses on engineering optimization and risk reduction [1] Figma Overview - Figma is heavily investing in AI features to enhance its product suite, including the integration of Gemini 3 Pro and Nano Banana Pro for AI image generation and editing [3] - The collaboration with OpenAI allows users to generate FigJam diagrams from ChatGPT conversations, enhancing user experience [4] - Figma's acquisition of Weavy enables users to access leading AI models and editing tools on a single platform, making it competitive in the image editing market [5] - As of September 30, 2025, Figma had 12,910 paid customers with over $10,000 in annual recurring revenues (ARR) and 1,262 customers with over $100,000 in ARR, achieving a net dollar retention rate of 131% for high-spending customers [6] - Despite growth, Figma's non-GAAP operating profit decreased by 28.9% year-over-year to $34.02 million, with the operating profit margin dropping from 24% to 12% due to cost pressures from new AI features [7] Autodesk Overview - Autodesk leverages decades of proprietary data to train its AI models, integrating generative design and predictive analytics to enhance productivity [9] - The company reports significant adoption of AI tools across its platforms, with over 2.6 million constraints delivered by its AI-based Sketch AutoConstrain feature [10] - Autodesk is positioned to benefit from AI monetization and subscription revenues, although it faces high costs related to cloud infrastructure and talent acquisition [11] - Research and development costs remain high as Autodesk seeks to maintain its competitive edge, alongside increasing sales and marketing expenditures [12] - Autodesk's fiscal 2026 earnings are projected to grow by 20.5% year-over-year, with recent estimates revised upward [13] Comparative Analysis - In the last three months, Figma shares have declined by 25.7%, while Autodesk shares have decreased by 5.4% [14] - Autodesk's larger scale and market capitalization provide it with a better position to absorb cost pressures and monetize investments, making it a comparatively safer investment during the current AI growth phase [15] - Figma trades at a forward 12-month price-to-sales (P/S) multiple of 12.51X, which is higher than Autodesk's 8.12X [16]

Key Takeaways Figma integrated AI across its suite, adding image generation, editing and ChatGPT-driven asset creation.FIG's AI launches lifted adoption, with 540,000 paid customers and 131% net dollar retention in Q3 2025.Figma's new products expanded high-value accounts, topping 12,910 customers with $10K ARR by Sept. 30, 2025.Figma (FIG) is investing heavily in making its product suite valuable by integrating AI features. Figma took a leap in AI image generation and editing by integrating Gemini 3 Pro wi ...

哈喽，大家好，今天小墨这篇评论，主要来分析一下，一个曾被Adobe用200亿美元收购却失败的小工 具，如何在3年后独立上市并搅动风云的。 2022年，当软件巨头Adobe挥舞着200亿美元支票，想要收购当时最大的潜在威胁：协同设计平台Figma 时，所有人都觉得这局棋Adobe下得又快又狠。谁能想到，这步棋最后竟因为欧美监管机构的反垄断审 查而"卡壳"了。 收购告吹，Adobe还白白付了10亿美元"分手费"。但正是这笔天价"分手费"，反而像一记响亮的耳光， 打醒了市场，让大家看清了Figma的潜力和价值。 时间跳到2025年7月，Figma选择不再依附任何巨头，自己走上纽交所敲钟。上市当天，股价就像坐了 火箭，最高时市值冲到560多亿美元，虽然现在稳定在240亿左右，但这已经足够让当年的收购案，看起 来像是一个错失的世纪机会。 那么，一个最初只想做"云端Photoshop"的创业项目，凭什么能让巨头头疼，又让资本市场疯狂？今 天，我们就来"解剖"一下这只"麻雀"。 不靠销售靠产品，用户自己就是"推销员" Figma最厉害的地方，不是技术有多黑科技（虽然它的实时协作引擎确实牛），而是它找到了一种病毒 式的增长方 ...

Core Insights - Figma (FIG) shares have declined by 29.8% over the past three months, underperforming the Zacks Internet - Software industry's decline of 12.5% [1][4] - Despite the decline, FIG stock is trading at a premium with a forward 12-month Price/Sales ratio of 12.85X compared to the Computer and Technology sector's 4.92X [4] - Figma's non-GAAP operating profit decreased by 28.9% year over year to $34.02 million, with the operating profit margin contracting from 24% to 12% [6] Company Performance - Figma's customer base has grown to 540,000 paid customers, driven by new product launches and strong enterprise adoption [4][11] - The company added over 90,000 paid teams in just two quarters, indicating robust growth despite competitive pressures [11][13] - Figma's net dollar retention rate for customers spending $10,000 or more annually was 131% in the third quarter of 2025 [11] Competitive Landscape - Figma faces significant competition from established players like Adobe, Microsoft, and Atlassian, which are enhancing their offerings with AI features [7][9] - Adobe's Firefly and Microsoft Copilot are contributing to their growth, impacting Figma's market share [7] - Atlassian is integrating generative AI features into its collaboration software, further intensifying competition [9] Product Development - Figma launched four new products in early 2025, including Figma Make, Figma Draw, Figma Sites, and Figma Buzz, effectively doubling its product offerings [13] - Approximately 30% of customers spending $100,000 or more in annual recurring revenue were using Figma Make weekly by the end of September [14] - The introduction of the Dev Mode MCP server aims to enhance developer workflows by integrating Figma Design context into various platforms [14] Investment Outlook - Given the stock's slump, premium valuation, margin pressures, and rising competition, the near-term upside for Figma remains uncertain [15] - However, strong customer growth and product adoption indicate resilience, leading to a recommendation to hold the stock for now [15]

Core Viewpoint - Figma's stock has experienced a significant decline following its IPO, primarily due to broader tech market sell-offs and concerns regarding AI valuations and competition from Adobe, despite reporting strong earnings results [1][4][6]. Company Performance - Figma's third-quarter earnings report showed positive results, with revenue increasing by 38% to $274.2 million, surpassing estimates of $264 million. Adjusted net income rose from $9.9 million to $45.4 million, equating to $0.10 per share, exceeding the consensus estimate of $0.05 [5][6]. - The company provided solid guidance for the fourth quarter, projecting revenue growth of 35% to between $292 million and $294 million, along with expected adjusted operating income of $112 million to $117 million for the full year [8]. Market Context - The stock fell 28% in November, continuing a downward trend that began after its IPO, influenced by a general decline in tech stocks and fears of an AI bubble [2][4]. - The sell-off was exacerbated by Adobe's acquisition of Semrush, indicating Adobe's proactive approach to growth, which may indirectly impact Figma's competitive position [7]. Investment Outlook - Figma's current market capitalization has dropped below the $20 billion acquisition offer from Adobe in 2022, and its share price is slightly above the $33 IPO price, making it appear well-priced [9]. - With ongoing business momentum and the introduction of new AI-powered products like Figma Make, the company is positioned as an attractive investment opportunity [8][9].

Market Overview - The recent sell-off in the stock market has created attractive investment opportunities, with stocks expected to finish November down, marking the first down month since April [1][2] - The CBOE Volatility Index has reached a six-month high, indicating increased market fear [1] Economic Indicators - Consumer sentiment has significantly declined, and the labor market has stagnated [2] - The housing market is currently at a standstill, and major retailers like Walmart, Target, and Chipotle have reported an "affordability crisis" affecting discretionary consumer spending [2] Investment Opportunities Figma - Figma's stock has experienced significant volatility, going public at $33 and peaking at $142 shortly after, driven by high demand and a previous acquisition attempt by Adobe valued at $20 billion [4][9] - Despite a decline in stock price following its Q2 earnings report due to concerns over spending, Figma's Q3 revenue rose 38% to $274.2 million, with an adjusted operating profit of $34 million [7][9] - Figma is investing in AI technologies, introducing products like Figma Weave and Figma Make, which leverage generative AI for design purposes [8][9] - The current market cap of Figma is $18 billion, which is below Adobe's previous offer, and its price-to-sales ratio of 17 is considered reasonable given its growth rate [9] Upstart - Upstart, an AI-powered loan originator, has seen its stock decline sharply, similar to other fintech companies, due to rising credit risks and slowing job growth [10][14] - Despite these concerns, Upstart's business remains strong, with loans originated increasing by 128% to 428,056 in the last quarter, and revenue jumping 71% to $277 million [13][14] - The company reported a GAAP profit of $31.8 million, or $0.23 per share, although guidance for Q4 indicates a slowdown in growth [13][14] - Upstart's stock is currently trading at a price-to-earnings ratio of 28, and despite credit environment risks, it is viewed as significantly undervalued given its growth potential in the auto and home loan markets [15]

Core Insights - Figma is experiencing strong momentum in paid customer growth, with 12,910 customers generating over $10,000 in annual recurring revenues (ARR) and 1,262 customers generating over $100,000 in ARR as of September 30, 2025 [1] - The company added over 90,000 paid teams in two quarters, bringing the total to 540,000 paid customers, driven by the adoption of new products like Figma Make and AI features [2][10] - Figma Make, an AI-powered tool, has seen approximately 30% of high-spending customers using it weekly by the end of September [3] - The launch of over 50 new features in Q3 2025, including AI-driven tools, has significantly enhanced Figma's platform [4] Competitive Landscape - Figma faces stiff competition from Adobe and Atlassian, both of which are expanding their clientele and AI-driven revenue base [5] - Adobe's AI-influenced ARR surpassed $5 billion in Q3 2025, reflecting strong adoption of its innovative AI-infused products [6] - Atlassian has integrated AI deeply into its platform, enabling over 3.5 million monthly active users to leverage AI-powered tools, with usage growing by more than 50% since the last quarter [7] Financial Performance - Figma's shares have lost 48.3% in the past three months, while the broader Zacks Computer & Technology sector has appreciated by 10.8% [8] - The company's stock is trading at a forward 12-month Price/Sales ratio of 11.91X, compared to the sector's 6.65X, indicating a premium valuation [11] - The consensus estimate for 2025 earnings is 41 cents per share, reflecting a 110.96% increase from the reported figure of 2024 [13]