After Buzzy IPO, Figma Stock Just Had a $50 Billion Wipeout

Benzinga_recent_news06-15

The stock has since fallen to $18, wiping out much of those gains and reducing its market capitalization from $59 billion to about $9 billion. Figma has been in a strong downward trend in the past few...

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The view among these investors is that its demand will drop as AI models improve. \nFigma has also slumped after the company reported a whopping $142 million net loss in the first quarter, driven by a jump in stock-based compensation.\nStill, on the positive side, there are signs that the ongoing crash is unwarranted. For one, the expected churn has not materialized, and the company continues growing. \nThe company also provided strong forward guidance for the second quarter. It expects that its revenue will come in at $350 million, higher than the average estimate of $349 million. Figma and other top software companies tend to be highly conservative when making their guidance. \nWall Street analysts tracking the company believe that Figma shares will ultimately rebound in the long term when the ongoing SaaSPocalypse fears fade. \nMost analysts who are bullish on the company note that the company has become essential in design and that it will be hard for it to be replaced. At the same time, there are signs that it has become a bargain as it ended the quarter with over $1.6 billion in cash and no debt. \nA quick Rule-of-40 calculation shows that it is not all that overvalued. It has a forward annual revenue growth of 35% and an operating profit margin of 16%, giving it a multiple of 51%. \nThe company will also benefit from artificial intelligence, which will ultimately help it to slash costs in the long-term. All these catalysts will likely help it rebound once the SaaSpocalypse fears fade.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2643223491","isCrawlerRequest":true}