What is the current valuation of Figma, and is it considered undervalued or overvalued by analysts?

**Figma's Current Valuation and Analyst Perspectives**

1. **Market Valuation**: Figma's initial public offering (IPO) priced at $33 per share raised $1.2 billion, securing a $19.3 billion valuation as of July 30, 2025. This valuation is a result of strong investor demand and Figma's robust growth metrics.

|code|Ticker|Name|Date|P/E(TTM)|P/S|Price to Book Ratio|market_code|
|---|---|---|---|---|---|---|---|
|FIG|FIG.N|Figma|20250722||0||169|
|FIG|FIG.N|Figma|20250723||0||169|
|FIG|FIG.N|Figma|20250724||0|0|169|
|FIG|FIG.N|Figma|20250725||0|0|169|
|FIG|FIG.N|Figma|20250728||0|0|169|
|FIG|FIG.N|Figma|20250729||0|0|169|
|FIG|FIG.N|Figma|20250730||0|0|169|
|FIG|FIG.N|Figma|20250731|0.0000||0|169|

2. **Analyst Perspectives on Valuation**:
- **Mixed Views**: Analysts have mixed opinions on whether Figma is overvalued or undervalued. While the IPO price reflects strong investor confidence, it also suggests a premium valuation relative to peers.
- **Premium Valuation Concerns**: Some analysts caution that Figma's valuation is high compared to its peers, trading at a significant premium to revenue multiples. This could indicate that the current valuation is vulnerable to interest rate shifts and macroeconomic fluctuations.
- **Growth Justification**: Others argue that Figma's valuation is justified by its exceptional growth rates, strong gross margins, and dominant market position in design tools. The company's AI-first strategy and enterprise-focused platform are seen as key differentiators.
- **Comparative Analysis**: Figma's valuation is often compared to its competitors, such as Adobe, which attempted to acquire Figma for $20 billion before regulatory issues. Figma's current valuation is slightly higher than what Adobe offered, reflecting the market's continued interest in high-growth tech companies.

In conclusion, while Figma's valuation appears high, analysts are divided on whether it is undervalued or overvalued. The premium valuation is supported by the company's strong growth trajectory, AI integration, and enterprise adoption. However, concerns over valuation multiples suggest that investors should monitor Figma's growth sustainability and market dynamics closely.