11:11 AM EDT, 03/25/2026 (MT Newswires) -- Figma ( FIG ) has a strong growth trajectory in software, with its artificial intelligence-embedded digital design platform disrupting the market, Oppenheimer said in a note Wednesday.

The brokerage said there are few software firms that have scaled their revenue run-rate to $1.22 billion as quickly as Figma ( FIG ), which deserves a premium for having a "visionary" technology management team.

Bears, however, expect agentic automation could reduce the value of design platforms and subscriber growth, increase AI-native competitors, and weaken Figma's ( FIG ) moat, according to the note.

The brokerage estimates Figma's ( FIG ) total addressable market at over $33 billion and sees potential price upside to $29 to $31 per share in a bull case and downside to $13 to $15 per share in a bear case.

Oppenheimer initiated coverage on Figma ( FIG ) stock with a perform rating.

Price: 21.64, Change: -0.23, Percent Change: -1.05