10 Big Names With Surprising Gains

2. Figma, Inc. (NYSE:FIG)

Figma ended two days of losses on Wednesday, adding 6.67 percent to close at $74.04 apiece as investors took path from an investment firm’s bullish rating for its stock.

In a market note, investment firm Piper Sandler gave an “overweight” rating for Figma, Inc. (NYSE:FIG) shares with a price target of $85. The figure marked a 14.8-percent upside potential from its latest closing price.

According to Piper Sandler, the rating was based on the company’s “differentiated platform, attractive business model, and broad-based global reach into 450K+ customers.”

Additionally, it said that Figma, Inc. (NYSE:FIG) is in the early innings of unlocking opportunities from the booming artificial intelligence industry.

Piper Sandler expects Figma, Inc. (NYSE:FIG) to incur annualized recurring revenues of $3 billion by 2030, helped by new AI-powered features, broader international adoption, and plans to convert free users to paid subscribers.