Following Figma's strong third-quarter earnings report, Goldman Sachs updated its outlook on the company on November 7, 2025. Analyst Kash Rangan maintained a Neutral rating on FIG stock but increased the price target from $49.00 to $54.00, suggesting potential upside from its current trading levels. This move comes amidst a series of varied analyst reactions. In the preceding days, other firms adjusted their price targets, with some lowering their estimates despite the company's positive results. For instance, on November 6, Piper Sandler lowered its price target to $70.00 from $85.00, while still maintaining an Overweight rating. These mixed reviews reflect a broader debate on the company's valuation relative to its growth prospects, even as it surpasses revenue expectations driven by its AI-powered tools.