Figma stock was in focus after Jim Cramer said the recent decline is tied to investor concern that Google can do similar work. The comment came during the January 27 episode, when a caller asked why the stock had been sliding. The debate now centers on whether Figma stock can keep commanding confidence while AI and competitive pressure reshape creative software.
Why Figma stock is under pressure
Cramer said the pullback reflects a view that “you can do the same thing that Figma does with Google, ” adding that this is what is pushing the shares lower. He also said he does not know how to stop that dynamic, arguing that stocks seen as competing with Google are in a difficult position.
That caution echoed a second remark later in the exchange. Cramer said people had gotten “too excited” about the stock and added that Figma is “very good design software, ” but that he does not want to touch design software because he thinks it is “too hard. ” The message was clear: Figma stock is facing more than a one-day move. It is facing a broader market worry about competition and positioning.
What BTIG is seeing now
BTIG analyst Nick Altmann began coverage on Adobe and Figma with Hold ratings on both names. The firm said both companies have strong business results, but there is still uncertainty as AI changes how creative tools are used. The shares were up more than 5% at the time of writing, but the broader tone remained cautious.
For Figma, BTIG said it likes the products but wants more clarity before turning more positive. The firm pointed to the company’s AI feature called “Make, ” which started rolling out more broadly in March with credit usage and limits. BTIG also noted early signs of traction, including weekly active users for the feature up 70% quarter-over-quarter, while high AI costs are pressuring margins.
BTIG said Figma stock could become one of the first software companies to successfully monetize AI, but the firm said it is still unclear how much users will continue to use the product. That uncertainty matters now because investors are looking for proof that AI can support growth without weakening profitability.
Adobe remains part of the same debate
BTIG also initiated coverage on Adobe with a Neutral rating, saying the company remains the clear leader in creative software through Creative Cloud. The firm cited about $24 billion in Fiscal 2025 revenue, 11% year-over-year growth, and margins of about 37%.
Even so, BTIG said AI is creating new concerns across the category. It added that Adobe looks relatively cheap compared with peers and that it likes Adobe’s AI strategy, but still wants clearer evidence before taking a more bullish stance. The same caution is shaping the view on Figma stock, where strong product momentum is not yet enough to remove uncertainty.
What Figma stock may face next
The immediate question is whether investors will keep focusing on competition from Google and on the pace of AI monetization. For now, Figma stock sits at the center of a wider reassessment of design software, and the next catalyst will likely be whether the company can prove that its products can grow inside a changing market.
Until that happens, Figma stock is likely to remain tied to the same themes that Cramer and BTIG highlighted: competition, AI execution, and the difficulty of judging how much upside is already priced in.
