Is Figma, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Figma, Inc. moved from very expensive to attractive, indicating a significant shift in its perceived value. Based on the available metrics, Figma appears to be undervalued. The current price stands at 56.84, with a notable 52-week range between 49.53 and 142.92, suggesting volatility and potential for recovery. While specific valuation ratios are not provided, the absence of peer comparisons indicates a unique position in the market. Despite recent performance, Figma's stock has underperformed the S&P 500 over the past week, returning -6.91% compared to the S&P 500's 1.70%. However, it has outperformed the index over the past month with a return of 3.76% against 0.96% for the S&P 500, reinforcing the notion that Figma may be poised for a rebound.