Figma Stock Today (November 28, 2025): FIG Price, Fresh News, Lawsuit Risk and 12‑Month Outlook

Figma stock (NYSE: FIG) is trying to stabilize after a bruising few months, trading around the mid‑$30s on this shortened Black Friday session in New York. Real‑time feeds from trading platforms such as Kraken, Robinhood and Investing.com show FIG changing hands near $36–$36.5 per share, implying a market capitalization of roughly $18 billion. ^[1]

That leaves Figma only modestly above its $33 IPO price from late July, but still down sharply from its post‑IPO peak above $140 earlier this year. ^[2]

With U.S. markets closing early at 1 p.m. Eastern for Black Friday, trading volumes in FIG are lighter than usual, but the stock remains in focus thanks to new analysis published this morning, strong recent earnings — and a very real overhang from an AI data‑use lawsuit. ^[3]

FIG stock price today: calm on the surface, volatility underneath

Across several data providers, Figma stock today:

Trades around $36.3 per share (mid‑session). ^[4]
Is up fractionally versus Wednesday’s close of $36.13. ^[5]
Has a day range roughly between $35.6 and $36.6 so far. ^[6]
Carries a market cap near $18 billion, with most sources clustering between $17.9B and $18.1B. ^[7]

Technically, the picture is still fragile. A pre‑market report from StockInvest on Wednesday flagged FIG as a “sell candidate”, noting that:

The stock has fallen about 18% over the last 10 trading days, even after a short bounce.
Volatility has been high, with recent intraday swings around 5–8%. ^[8]

Short version: price action today is quiet, but it’s happening after weeks of heavy damage.

All the key Figma stock news dated November 28, 2025

1. Where Will Figma Stock Be in 1 Year? – fresh Motley Fool outlook (today)

A new article on The Motley Fool published this morning revisits the 12‑month outlook for FIG. The piece highlights that:

Wall Street’s 12‑month median price target is around the high‑$60s, implying roughly a double from today’s price if analysts are right. ^[9]
Around 10 analysts now cover Figma, with most still expecting strong revenue growth but warning that the stock’s valuation remains rich relative to the broader tech sector. ^[10]

The tone is cautiously optimistic: Figma’s fundamentals and AI story are appealing, but a lofty price‑to‑sales multiple and recent volatility mean investors should be ready for more bumps along the way.

2. My 2 Favorite Stocks to Buy Now – Figma named a Black Friday bargain (today)

Another Motley Fool article out this morning names Figma as one of two “favorite stocks to buy now.” ^[11]

Key takeaways from that piece (heavily paraphrased):

Growth: Q3 revenue climbed 38% year over year to $274.2 million, and Figma passed $1 billion in annual revenue run‑rate, echoing the company’s own earnings release earlier this month. ^[12]
Profitability trend: On a non‑GAAP basis, Figma generated about $34 million in operating income in Q3, with free cash flow swinging from a nine‑month loss of roughly $‑139 million in 2024 to a gain of about $204 million in 2025, according to the article’s summary of company filings. ^[13]
AI and product expansion: The author cites rapid adoption of Figma Make, Figma’s AI‑driven prototyping tool, and the launch of Figma Weave (via the acquisition of Weavy) to push deeper into video, animation and motion design. ^[14]

The conclusion there: despite a painful share‑price drop since the IPO, Figma’s growth, sticky customer base and early lead in AI‑powered design make it attractive to long‑term investors who can tolerate volatility.

3. AIBase: Figma’s ChatGPT integration and that 30% “lightning rally”

AI news outlet AIBase also published a feature today (dated November 28) revisiting Figma’s October integration with ChatGPT, which OpenAI showcased at DevDay on October 6. ^[15]

Highlights from that piece:

Figma was presented as a “first‑wave application” inside ChatGPT, letting users generate complex flowcharts and product diagrams directly in a chat, then push them into FigJam.
Within three days of that announcement, Figma’s stock jumped about 30%, as investors bet on the traffic and customer funnel that 800 million weekly ChatGPT users could represent. ^[16]

The article frames Figma as one of the early winners of “conversational workflows,” where users type instructions and AI orchestrates tools like Figma behind the scenes.

Although that DevDay rally happened in October, today’s AIBase piece is helping keep the “Figma + OpenAI” story in front of investors.

Fundamentals check: Figma’s Q3 2025 numbers and customer growth

Figma’s November 5 earnings release is still the backbone of most analyst commentary showing up today. ^[17]

From the company’s own report and subsequent coverage:

Revenue: Q3 2025 revenue was $274.2 million, up 38% year over year.
Scale: That corresponds to an annualized revenue run‑rate above $1.0 billion, a big psychological milestone for a young SaaS company.
Profitability (non‑GAAP): Figma posted $34 million in non‑GAAP operating income and an 18–19% adjusted free‑cash‑flow margin. On a GAAP basis, results were deeply negative because of nearly $1 billion in IPO‑related stock‑based compensation, a one‑time expense. ^[18]
Balance sheet: The company finished the quarter with about $1.6 billion in cash and marketable securities, giving it plenty of runway to keep investing in AI and product development. ^[19]

Zacks’ detailed customer analysis, published yesterday and still widely cited today, adds more color: ^[20]

Figma now counts 12,910 customers paying more than $10,000 in ARR, and 1,262 customers paying over $100,000 annually.
Over the last two quarters, it added more than 90,000 new paid teams, bringing the total to around 540,000 paid customers.
Net dollar retention for customers spending $10,000+ in ARR sits around 131%, meaning existing customers are spending materially more each year.

Those numbers explain why many analysts still see FIG as a premium growth story, even though the stock has been hammered.

So why has Figma stock fallen so far?

Despite the strong business metrics, FIG’s share price has been brutalized since the euphoric IPO:

Figma briefly traded near $140+ soon after its July 31 listing, but now sits in the mid‑$30s — a drawdown of roughly 75% from peak to trough by some measures. ^[21]
Zacks recently estimated that FIG is down around 56% from its first trading day, while another Motley Fool piece notes a drop of more than 50% from mid‑2025 levels. ^[22]
An InvestorsObserver analysis this week highlighted that since IPO, Figma’s losses have been over three times deeper than Adobe’s, undermining the early narrative that Figma would “crush” its much larger rival. ^[23]

Several factors are driving that disconnect between business performance and stock performance:

Valuation compression
- Zacks pegs Figma’s forward 12‑month price‑to‑sales multiple at about 11.9×, compared with 6.7× for the broader Computer & Technology sector. ^[24]
- Earlier in the year, that multiple was even higher, and the market is now punishing expensive high‑growth names after a strong multi‑year tech run.
Post‑IPO hangover & dilution
- Repeated analyses (including on Seeking Alpha) argue that the IPO came at an aggressive valuation, and that the large one‑time stock‑based compensation charge baked into Q3 numbers underscores how dilutive the listing was for existing shareholders. ^[25]
Macro and sentiment
- Broader markets have wobbled in November, and growth‑at‑any‑price software names have tended to underperform even on days when the S&P 500 and Nasdaq are up, as they are today. ^[26]

New and ongoing risk: the AI data‑use lawsuit

A major overhang that’s still very fresh in investors’ minds is the AI data‑use lawsuit filed against Figma on November 21. ^[27]

According to Reuters’ report on the case:

A proposed class action in U.S. federal court accuses Figma of misusing customers’ design files to train its generative AI models without proper consent.
Plaintiffs frame this as theft of trade secrets and unauthorized access to sensitive business data, not simply a copyright issue.
Figma strongly disputes the claims, saying that it does not use customer data to train its models without explicit authorization, and that when data is used, it is de‑identified and focused on learning general patterns, not reproducing user content. ^[28]

The case is still in early stages, but it matters for FIG stock because:

It introduces headline risk just as Figma is leaning heavily into AI features like Make and Weave. ^[29]
Any court‑ordered restrictions on how Figma trains models could slow product development or require costly changes to its AI approach.
It adds to the broader wave of legal scrutiny facing AI companies over training data, an overhang investors can’t easily quantify.

Insider selling and governance optics

Another detail that investors are still digesting (though not new today) is a cluster of insider stock sales disclosed on November 19: ^[30]

CEO Dylan Field sold stock worth roughly $113 million.
The company’s chief accounting officer and general counsel also sold smaller amounts of shares on the same date.

These disposals don’t automatically mean insiders are bearish — they may relate to pre‑scheduled trading plans or diversification after the IPO — but against a backdrop of legal risk and falling prices, they contribute to investor unease.

Analyst targets and what they imply for FIG

Across platforms that track Wall Street estimates:

Consensus 12‑month price targets for FIG cluster in the low‑to‑mid $60s, with some data sets quoting a median around $63–69 based on about 10 analysts. ^[31]
From today’s mid‑$30s share price, that implies potential upside of roughly 70–90% if those forecasts play out.
Zacks currently rates FIG a “Hold” (Rank #3), reflecting strong fundamentals but concerns about valuation and stock volatility. ^[32]

Put simply: analysts as a group still expect Figma to grow into its valuation — but after the stock’s collapse, many are more cautious about calling it an outright bargain.

Bull vs. bear case after today’s news

Bull case in a nutshell

Supporters of FIG, including today’s bullish Motley Fool piece, point to: ^[33]

High growth at scale – ~40% annual revenue growth on a $1B+ run‑rate is rare.
Powerful customer economics – 131% net dollar retention and rapidly rising counts of $100k+ ARR customers.
Category leadership – Figma is increasingly viewed as the default tool for product design and collaboration, with a large and loyal community.
AI leverage – Products like Figma Make, Weave, and the ChatGPT integration can both deepen usage and expand the market, lowering the barrier for non‑designers to build software.
Solid cash position – Over $1.5B in cash and positive free cash flow give Figma ample flexibility.

From this angle, today’s mid‑$30s price looks like an opportunity to buy a category‑defining SaaS business at a significant discount to where the market valued it right after the IPO.

Bear case in a nutshell

Skeptics counter with points emphasized in recent bearish notes from Zacks, Seeking Alpha and others: ^[34]

Valuation is still rich – Even after crashing, FIG trades at a double‑digit forward sales multiple and well above sector averages.
Competition is fierce – Adobe, Atlassian and up‑and‑coming design tools like Canva and Framer are all racing to add generative AI features.
Legal and regulatory uncertainty – The data‑use lawsuit hits right at the heart of Figma’s AI push and could lead to costly changes or settlements.
Shareholder dilution and insider selling – The large IPO‑related stock comp charge and insider sales make some investors question alignment.
Technical damage – After a 70%‑plus drawdown from the highs and heavy selling, many traders see FIG as a “show‑me” story that must prove it can sustain growth without relying on hype.

What today’s action means if you’re watching FIG

With Black Friday’s shortened session, FIG is having a relatively quiet day, but the news flow isn’t. Investors reading today’s coverage are essentially being asked a single question:

Do you believe Figma’s AI‑powered design platform can grow fast enough, for long enough, to justify a premium valuation — despite legal risks and brutal volatility?

If you’re bullish on that story, today’s price near $36 — modestly above the $33 IPO level and far below the $140+ peak — can look like a high‑risk/high‑reward entry point.

If you’re cautious or risk‑averse, the smarter move may be to wait for:

More clarity on the AI data‑use lawsuit,
Further quarters of execution under public‑market scrutiny, and
A possible further reset in valuation if growth or margins wobble.

Either way, FIG is likely to stay a headline‑driven, high‑beta stock well into 2026.

Reminder: This article is for informational purposes only and is not investment advice. Always do your own research or speak with a qualified financial advisor before buying or selling any stock.

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