Bank of America restarts coverage of Figma with a Buy rating and $30 target, citing AI tailwinds

Figma shares moved higher after Bank of America reinstated research coverage of the design and collaboration platform with a Buy rating and a $30 price objective, according to a report carried by Proactive Investors on July 7, 2026. The move indicates a fresh round of institutional attention for Figma, which had been outside Bank of America’s active coverage at the time the note was issued.

The report said Bank of America’s stance is built around the idea that artificial intelligence is more likely to strengthen Figma’s position than weaken it. In practical terms, that view implies the bank sees AI features, workflows, or automation as a potential way for Figma to improve how teams create, iterate, and collaborate on digital designs.

While the Proactive post did not spell out granular financial modeling details in the text available, it characterized the $30 target as tied to expectations that AI will function as a “growth catalyst.” The term “price objective” in sell-side research generally reflects the bank’s estimate of what the stock could be worth over a defined time horizon, based on assumptions about revenue growth, margins, and risk.

A separate Yahoo Finance link surfaced in the same research set, also describing Bank of America’s reinstatement of Figma at Buy and $30, and framing AI as part of the bank’s growth thesis. However, the additional Yahoo-linked material was not fully available in the provided capture, so details beyond the rating, target, and AI-focused argument cannot be independently confirmed from the text in hand.

The catalyst framing matters because Figma operates in a crowded software market where competing tools can differentiate on features, speed, and collaboration. Figma’s competitive case typically rests on the workflow its users adopt and the extent to which teams standardize around its design and prototyping environment. If AI can reduce friction for common tasks, or improve the quality of outputs, it can influence buying decisions and retention, the kind of dynamic sell-side research often highlights.

More broadly, the research note arrives at a time when investors have been weighing whether “AI everywhere” translates into sustained commercial advantage for software platforms, or whether it merely increases competitive noise. Bank of America’s choice to restart coverage suggests it believes Figma can convert AI adoption into measurable business momentum, rather than being commoditized by broader platform features.

Still, the public-facing details available here are limited. The Proactive Investors post, as captured, does not provide the full set of assumptions behind the $30 target, including specific revenue drivers, margin forecasts, or discussion of near-term risks. It also does not indicate whether Bank of America cited particular product releases, customer metrics, or contract dynamics as evidence that AI will accelerate growth.

For shareholders, the immediate item to watch is whether other analysts follow with similar coverage changes, or whether Figma’s own disclosures begin to align more directly with the AI growth narrative referenced by Bank of America. Over the next few reporting cycles, investors will likely look for evidence that AI-enabled functionality is improving user engagement, conversion, and expansion among existing customers, or supporting new demand that offsets competitive pressures.