Figma Shares Fall 10% to Record Low After Price Target Cut to $22
FIG•Figma rolled out AI-powered code layer, shader and motion support and custom plugins at its annual event, prompting RBC Capital to cut its price target to $22 from $28 on monetization doubts. The stock plunged 10% to a record low, while four of 13 analysts still rate it a buy.
1. AI-Powered Feature Launch
At its annual Config event, Figma introduced a new AI-powered code layer alongside shader and motion support and tools for building custom plugins. The company also showcased Figma Make, its AI-based prototyping tool integrated with Claude Code and Codex, expanding its AI-native creative workflow.
2. RBC Capital Price Target Cut
RBC Capital lowered Figma’s price target to $22 from $28, representing a 21% implied downside, citing uncertainty over the financial impact of its early-stage AI features. The analyst noted an evolving seat-plus-consumption model but stressed that product monetization remains unproven.
3. Stock Reaction
Figma’s shares fell 10% on the day of the price target revision, marking a third consecutive decline and driving the stock to a fresh record low. The drop reflects investor caution over the pace at which new AI tools will translate into revenue.
4. Analyst Ratings Breakdown
Of 13 analysts covering Figma, four maintain buy ratings and nine hold, highlighting mixed sentiment on the company’s growth outlook. Despite the target cut, RBC’s updated forecast still implies a 31% premium over the recent closing price.
