2. Hitting JPMorgan’s $65 target does suggest some near-term downside is priced in. If you believe in long-term SaaS growth and Figma’s network effects, this may be a buy-the-dip window—though timing risk remains.
3. A forward P/E of ~370 is extremely stretched, even by high-growth SaaS standards. If growth slows or guidance disappoints, Figma could retrace sharply, similar to post-earnings collapses like CoreWeave. The stock is priced for perfection, leaving little margin for error.
👉 Summary: Expect big swings this week. It’s a potential dip-buy for long-term believers, but near-term risk/reward is skewed by frothy valuation.
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