Figma Upgraded to Overweight by Wells Fargo, Named 'Top Pick'

Wells Fargo upgraded Figma (FIG) from 'Equal Weight' to 'Overweight', setting a new price target of $52.

The upgrade aligns with the firm’s broader 2026 outlook for the software sector, which emphasizes the growing importance of cloud infrastructure and generative AI. Analysts cited stabilizing growth, monetization potential, and continued market share gains as key levers for Figma's future trajectory.

Underscoring this positive outlook, Wells Fargo named Figma its top pick among companies considered 'AI builders.' The firm emphasized that software for coding and creative design is a powerful use case for artificial intelligence.

Separately, Stifel initiated coverage on the same day. Stifel assigned a 'Hold' rating and a $40 price target.