Figma, Inc. (FIG), a leading cloud-based design platform, filed for its IPO on July 1, 2025, and is expected to trade on the NYSE under the ticker “FIG.” While its IPO pricing has not been officially announced, secondary market estimates place it near $37.00 per share. This article explores potential price forecasts for FIG, driven by robust revenue growth and AI innovation, though tempered by competitive and regulatory risks.
Also Read – Should You Go for Figma’s IPO? – 8 Things to Consider
Table of Contents
1. Company Overview
Figma, Inc., founded in 2012 by Dylan Field and Evan Wallace, is a San Francisco-based SaaS leader specializing in collaborative UI/UX design. Its cloud-based platform enables real-time teamwork for designers, developers, and product teams, serving clients such as Netflix, Alphabet, and Uber. Figma has built a base of approximately 450,000 customers and 4 million monthly active users. According to its S-1 filing, Figma reported $228.2 million in Q1 2025 revenue, representing a 46% year-over-year increase, along with $44.9 million in net income.
| Founded In | 2012 |
|---|---|
| Founders | Dylan Field, Evan Wallace |
| IPO Date | Expected late July/early August 2025 |
| Ticker Symbol | FIG |
| Stock Exchange | NYSE |
| Sector | Technology |
| Industry | Software—Application |
| Specialization | Collaborative design, UI/UX, SaaS |
Figma’s trailing twelve-month revenue of $821 million and its gross margin of 91% underscore its financial strength. The company’s expansion of AI-powered features through tools like Figma Make and Figma Buzz, along with its focus on new global markets such as Brazilian Portuguese localization, positions it to compete more directly against players like Adobe and Canva.
2. The Stock Market: Fundamentally Driven
Figma’s IPO filing on July 1, 2025, comes after it abandoned a $20 billion acquisition deal with Adobe in 2023, which resulted in Figma receiving a $1 billion termination fee. Its 46% Q1 2025 revenue growth and a reported $20 billion valuation on secondary markets signal high investor interest.
Recent Financial Snapshot
| Year | Revenue ($M) | Net Income ($M) | Gross Margin (%) | Free Cash Flow ($M) |
|---|---|---|---|---|
| 2023 | 505 | 738 | 90 | N/A |
| 2024 | 749 | -732 | 91 | N/A |
| Q1 2025 | 228.2 | 44.9 | 91 | 90 (est.) |
Figma’s loss in 2024 reflected a one-time $732 million stock compensation expense. Despite that, the company’s free cash flow margin of more than 40% in Q1 2025 highlights strong profitability. Backers such as Sequoia and Kleiner Perkins, who hold a combined 45% stake before the IPO, are seen as key supporters of Figma’s growth story.
Valuation Multiples
| Metric | Figma (FIG) | Adobe (ADBE) | Atlassian (TEAM) |
|---|---|---|---|
| P/S Ratio | 24.4 (est.) | 11.2 | 12.8 |
| P/E Ratio | N/A | 46.7 | N/A |
4. Sector Overview
Figma operates within the Technology sector, specifically in the Software—Application industry, which is expected to see strong demand thanks to SaaS and AI-led innovations. The SaaS and design technology outlook for 2025 through 2030 is considered positive, supported by widespread digital transformation.
The sector benefits from steady cloud-based software growth, with annual rates around 15% according to industry researchers. Generative AI is also reshaping how design workflows function. However, antitrust regulations may impact future mergers and acquisitions in this sector, and higher interest rates could cool investor enthusiasm for growth stocks.
In recent months, the iShares Expanded Tech-Software ETF (IGV) advanced 12% in 2024, while Figma’s 46% revenue growth outperformed many peers. Even though tariffs announced by the Trump administration in 2025 created IPO delays, Figma’s decision to proceed highlights confidence in market conditions.
Also Read – Is there any difference between a sector and an industry?
5. Industry Analysis
Figma’s competitors include new AI-based design tools from startups like Lovable, which could pressure Figma’s market share. Its global operations already account for over half of revenue, and its strong net dollar retention of 132% suggests loyal and growing subscription customers. Broader market sentiment has been supported by successful SaaS IPOs, including Circle’s recent sixfold gain.
Peers in the industry, such as Adobe, have struggled with products like XD, which lacked Figma’s collaboration strengths. Canva, meanwhile, has achieved a $49 billion valuation and is a significant competitive benchmark. Figma’s innovation in tools like Figma Make and Figma Sites, together with adding ServiceNow CEO Bill McDermott to its board, demonstrate its pivot to serving more enterprise customers.
6. Stock Growth and Fundamental Factors: FIG Price Prediction 2025–2030
Figma’s IPO is anticipated in late July or early August 2025 with an estimated price of around $37.00, though no final pricing has been confirmed. Strong fundamentals including an $821 million annualized recurring revenue base with 46% year-over-year growth, AI feature rollouts that could add $100 million in revenue by 2027, a client base of more than 1,000 customers spending over $100,000 each year, and the continued expansion of international users support a positive outlook.
The company’s Q1 2025 revenue spike of 46% and its reported 13 million monthly active users illustrate strong momentum going into its public debut.
7. Speculative Targets: Technical Analysis Insights
Technical signals remain speculative. Analysts see support potentially around $32.00 and resistance near $45.00 based on expected market sentiment and broader SaaS valuations. An estimated relative strength index reading of 60 points to a neutral setup. Moving averages, including a 50-day average near $37.00, align closely with the secondary market price estimates. Posts across social channels also suggest a 25x revenue multiple, translating to a $23 billion valuation.
8. Three-Scenario Forecast Model
Using bear, base, and bull scenarios with assumed compound annual growth rates of 5%, 15%, and 25% respectively, and assuming a speculative $37.00 listing price, the potential trajectories are outlined below.
| Year | Bear Case | Base Case | Bull Case |
|---|---|---|---|
| 2025 | $38.85 | $45.00 | $50.00 |
| 2030 | $49.74 | $110.23 | $149.01 |
| 2040 | $81.45 | $301.75 | $573.83 |
| 2050 | $133.36 | $500.00 | $1,500.00 |
9. Macro Trends & Strategic Roadmap
Figma’s growth aligns with several major global themes. The global SaaS market could cross $1 trillion in annual spending by 2030, supported by enterprise AI adoption, which may account for 20% of Figma’s revenue by 2040. International expansion could push overseas revenues to 60% of Figma’s total sales by the end of this decade. Government contracts provide a measure of stability as Figma courts public sector opportunities.
Strategically, the company plans to deepen its AI capabilities with products like Figma Buzz aimed at marketing teams, and it may use IPO proceeds for around $500 million in acquisitions by 2030. Additional language localizations beyond Brazilian Portuguese are also planned to drive new customer acquisition.
10. Investor Sentiment & Social Signals
Market sentiment around FIG appears bullish, with estimates placing its valuation at around $23 billion based on a 25x revenue multiple. Search interest has reportedly climbed 20% for the term “Figma IPO” during July 2025. Option call buying at the $40 strike price suggests optimism among early traders.
11. Risk Factors
Figma faces competitive risks, particularly from emerging AI-based design startups that could cut into its projected market share by 5% by 2030. Valuation remains elevated, with a price-to-sales ratio around 24.4 that could see corrections if market conditions worsen. Antitrust concerns may also limit future acquisition opportunities, while global trade uncertainties like tariffs could trim IPO demand by 10%.
12. Forecast Sections by Year
The near-term 2025 outlook assumes a base case of $45.00, supported by expected revenue growth and investor enthusiasm, with a bear case at $38.85 if tariffs weaken confidence, and a bull case of $50.00 if retail demand proves stronger than anticipated.
For 2030, the base case target of $110.23 would align with reaching $1.5 billion in revenue, while the bear case of $49.74 factors in increased AI competition, and a bull case of $149.01 would reflect global leadership in collaborative design tools.
In 2040, Figma could trade at a base case of $301.75 if it secures major enterprise accounts and continues innovating, with a bear case at $81.45 assuming slower adoption, and a bull case of $573.83 tied to dominating UI/UX design globally.
By 2050, the base case scenario sees a price target of $500.00 with revenues around $5 billion, while a bear case could see only $133.36 if product innovation slows, and a bull case envisions $1,500.00 if Figma achieves SaaS sector dominance.
13. Summary Forecast Table
| Year | Base-Case Price | Key Drivers |
|---|---|---|
| 2025 | $45.00 | IPO momentum and revenue growth |
| 2030 | $110.23 | AI tools and international reach |
| 2040 | $301.75 | Enterprise adoption and M&A |
| 2050 | $500.00 | SaaS leadership and AI expansion |
14. Long-Term Growth Prospects
Figma’s net dollar retention rate of 132% and a valuation nearing $20 billion point to significant growth potential. AI competition and tariff risks remain, but its focus on the enterprise market and international expansion make FIG a potentially compelling investment for the long term.
15. Frequently Asked Questions (FAQs)
What is Figma’s stock forecast for 2025?
FIG’s base-case forecast is around $45.00 post-IPO, supported by 46% revenue growth, although the final IPO price is still pending.
Will Figma stock reach $500 by 2050?
The base-case estimate projects $500.00 by 2050, with the bull case reaching as high as $1,500.00.
Is Figma stock overvalued at IPO?
A speculative price-to-sales ratio near 24.4 is elevated but may be justified by the company’s 46% growth rate and 91% margins.
How does Figma compare to Adobe and Canva?
Figma’s growth rate outpaces Adobe’s by a wide margin, while Canva’s $49 billion valuation sets a high competitive benchmark.
What are the main risks of investing in Figma stock?
Key risks include heightened competition from AI design tools, possible valuation corrections, and macroeconomic volatility from tariffs or regulation.
16. Conclusion
Figma (FIG) is preparing to go public with an estimated share price near $37.00, though the final pricing is not yet announced. Base-case targets are $45.00 in 2025, $110.23 in 2030, $301.75 in 2040, and $500.00 in 2050. The company’s innovative AI products and global expansion strategy support optimism, but investors should weigh competitive and market-related risks before committing capital.
This article is for informational purposes only and should not be considered financial advice. Investing in stocks, cryptocurrencies, or other assets involves risks, including the potential loss of principal. Always conduct your own research or consult a qualified financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred from actions based on this article. While efforts have been made to ensure accuracy, economic data and market conditions can change rapidly. The author and publisher do not guarantee the completeness or accuracy of the information and are not liable for any errors or omissions. Always verify data with primary sources before making decisions.