Two major banks lowered Figma’s price targets after its Config 2026 conference, citing early-stage product innovation and unproven financial impact.
Wells Fargo analyst Michael Turrin reduced Figma’s (NYSE:FIG) price target to $36 from $42 while retaining an Overweight rating on June 26, 2026. The adjustment follows Config ’26, where Turrin expressed increased confidence in Figma’s AI-driven design platform strategy and spending capture potential.
RBC Capital’s Rishi Jaluria also lowered his target to $22 from $28, maintaining a Sector Perform rating. Jaluria highlighted new AI-native tools and a shift toward a seat-plus-consumption model but noted products remain early with unproven financial impact. Citi initiated coverage earlier in June with a Buy rating and $36 target, citing strong AI traction.
Figma’s browser-based design platform has drawn attention for its collaborative features and AI integration, though analysts remain cautious about near-term revenue growth.