Wells Fargo lowered the firm’s price target on Figma (FIG) to $52 from $70 and keeps an Equal Weight rating on the shares. The firm says Figma has a tricky near-term setup given a premium valuation paired with the lock-up release, limited time as a public company and pricing not fully kicking in until Q4 enterprise renewals, while long-term debates center around growth durability/AI/new products.
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