Piper Sandler analyst Billy Fitzsimmons reiterated an Overweight rating and $35.00 price target on Figma Inc (NYSE: FIG).

The analyst commented: "Figma is coming off a strong print, where FIG guided FY26 to 30% y/y revenue growth (7 pts ahead of consensus) and reported expanding NRR metrics exiting the year (136% in 4Q vs. 131% in 3Q). Until Google's Stitch (covered by Tom Champion) updates last week (our take: here), FIG was one of the stronger performers in our coverage list post-earnings. To date, FIG has prioritized AI product usage and only started charging for AI credit overages on March 18th, 2026. Our analysis and attached deck shows that AI credit consumption has the potential to reach $100M+ in revenue in FY26. However, given the uncertainty related to credit enforcement and Stitch, we caution drawing a line in the sand near-term and prefer to lean on the scenario framework provided below to gauge AI monetization potential."

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Shares of Figma Inc closed at $23.73 yesterday.