Figma (FIG.N): Config 2026 Highlights a More Integrated Canvas to Drive Upgrades

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Figma (FIG.N): Config 2026 Highlights a More Integrated Canvas to Drive Upgrades

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25 Jun 2026 08:40:21 ET │ 10 pages

Figma (FIG.N)

Config 2026 Highlights a More Integrated Canvas to Drive Upgrades

CITI'S TAKE

Buy / High Risk We attended Figma's Config conference which focused heavily on

positioning the Infinite Canvas within Figma Design as the central product Price (24 Jun 26 16:00) US$18.64

across all areas of an organization (designers, marketers, developers etc.). Target price US$36.00

We view Figma's announcements as likely to drive greater Full Seat Expected share price return 93.1%

conversion (where Figma Design sits) and AI consumption by reducing the Expected dividend yield 0.0%

need to navigate outside of the ecosystem. Our investor session Expected total return 93.1%

takeaways supported this, with Figma focused on lowering the learning

Market Cap US$9,849M curve for non-designers through tools like the Figma Agent to expand

usage. Our partner/customer conversations seemed optimistic about the

new announcements, seeing them as an opportunity to better align the

workflows across teams in the organization. Tyler RadkeAC

+1-415-951-1660

Investor Session Focus on Broadening Scope, Scaling Usage - Figma's investor tyler.radke@citi.com

session emphasized increasing adoption and usage among historically lighter users Andrew Girard, CFA

of the platform like PMs or marketers. Management's strategy for this includes andrew.girard@citi.com

reducing the steeper learning curve for Figma Design through AI agents as well as

Yitchuin Wong

investing in advisory services and a more consultive sales motion. The company

yitchuin.wong@citi.com

noted the latter would be a drag on profitability in the near-term but that it overtime

lead to better retention and usage.