Figma, a collaboration tool, is now trading below the $20 billion Adobe acquisition offer, making it potentially undervalued. Despite currently losing money, it shows strong growth (45% CAGR) and positive KPIs like a 131% net dollar retention rate and increasing numbers of high-value customers. The analyst views it as a valuable platform for design and AI, but is waiting for a further price drop to $15-20 per share to justify the high valuation (20x sales).
“I don't know if I want to pay $35 per share, but if we get it for $20 per share, $15 per share, that sounds crazy.” — ▶ 29:40