What is the current market sentiment towards FIGMA?

The current market sentiment towards Figma (FIGS) is positive, as indicated by the following factors:

1. **Strong Investor Demand**: Figma's IPO is approaching 40 times oversubscribed, which is a strong indicator of investor interest and confidence in the company.
2. **Upsized IPO Ambitions**: Figma has upped its estimated price range for shares from $25 to $28, and is expected to price late Wednesday at $30 to $32 per share, with the potential for a fully diluted valuation of around $18 billion.
3. **Analyst Consensus**: The consensus among analysts is neutral with a slight bullish bias. The average of current price targets set by analysts for FIGS is $4.9, which suggests that analysts see potential for the stock to reach higher prices from its last closing price of $6.67.

4. **Market Valuation**: Figma's valuation is expected to be high, with the potential for a fully diluted valuation of around $18 billion, which is a significant figure compared to its revenue and net income.
5. **Competitive Position**: Figma is well-positioned in the design software market, with a ubiquitous product that is used by high-profile clients such as Netflix, Uber, and Google. Its profitability and revenue growth have been impressive, and it has the potential to benefit from the exponential growth of digital content and software.
6. **Strategic Importance**: Figma's IPO is seen as a benchmark for other large private software companies, and it has the potential to set the stage for more big software deals in the coming months.

Overall, the market sentiment towards Figma is positive, with a strong demand for the stock and a belief that it has the potential to reach higher prices in the near term. However, investors should be aware of the potential risks associated with high valuation and the competitive dynamics with other software companies.