Figma and Other Tech Stocks Face Market Challenges
Figma (NYSE: FIG), a leader in collaborative design software, has seen its stock plunge 68% in 2025 and an additional 49% this year due to concerns about competition from Anthropic’s Claude Design product. The company’s high IPO valuation in July 2025 contributed to its sharp decline, but analysts project a 12-month price target of 114% above the current price, fueled by a 40% year-over-year revenue growth and a net dollar retention rate of 136%.
ServiceNow (NYSE: NOW), which automates digital workflows for over 8,800 organizations, including 85% of the Fortune 100, has experienced a 40% year-to-date drop amid a broader sell-off in SaaS stocks, termed the “SaaSpocalypse.” However, analysts rate 43 out of 48 surveyed as “buy” or “strong buy,” forecasting over 60% upside potential. CEO Bill McDermott believes AI will serve as a tailwind rather than a threat.
MongoDB (NASDAQ: MDB), known for its popular Atlas cloud database, has fallen around 37% in the last four months despite a strong market presence with 60,000 customers. Analysts maintain a positive outlook with a consensus price target suggesting a 33% upside potential, as 30 of 39 rated it a “buy” or “strong buy” amid slower growth rates.
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