Head-To-Head Comparison: Fatpipe Inc/UT (NASDAQ:FATN) and Figma (NYSE:FIG)

Fatpipe Inc/UT (NASDAQ:FATN) and Figma (NYSE:FIG) are both services companies, but which is the superior stock? We will contrast the two companies based on the strength of their earnings, risk, analyst recommendations, dividends, valuation, profitability and institutional ownership.

Profitability

This table compares Fatpipe Inc/UT and Figma’s net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Fatpipe Inc/UT	N/A	5.28%	3.27%
Figma	-121.87%	-97.03%	-58.40%

Earnings and Valuation

This table compares Fatpipe Inc/UT and Figma”s gross revenue, earnings per share and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
Fatpipe Inc/UT	$17.86 million	1.68	$974,400.00	$0.07	30.71
Figma	$1.06 billion	8.89	-$1.25 billion	($3.12)	-6.82

Fatpipe Inc/UT has higher earnings, but lower revenue than Figma. Figma is trading at a lower price-to-earnings ratio than Fatpipe Inc/UT, indicating that it is currently the more affordable of the two stocks.

Analyst Ratings

This is a summary of recent ratings and target prices for Fatpipe Inc/UT and Figma, as reported by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Fatpipe Inc/UT	1	0	1	0	2.00
Figma	1	9	4	0	2.21

Fatpipe Inc/UT currently has a consensus target price of $8.00, indicating a potential upside of 272.09%. Figma has a consensus target price of $43.25, indicating a potential upside of 103.37%. Given Fatpipe Inc/UT’s higher possible upside, research analysts plainly believe Fatpipe Inc/UT is more favorable than Figma.

Summary

Fatpipe Inc/UT beats Figma on 7 of the 11 factors compared between the two stocks.

About Fatpipe Inc/UT

FatPipe is a pioneer in enterprise-class, application-aware, secure software-defined wide area network (“SD-WAN”) solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and middle-market companies. Organizations, large and small, have become increasingly dependent on their information technology (“IT”) network infrastructure for data access and communications, and the critical importance of network reliability, extensibility, and durability has continued to grow as the volume of traffic across those networks expands. The management, monitoring, and security of an organization’s network has become increasingly complicated in an era of growing demands from remote work, increasing connectivity points, and disparate operations, while network integrity is challenged by ever more sophisticated cyber threats. These factors are conspiring to increase an organization’s reliance on its computer networks while simultaneously making the management and maintenance of those networks more costly and complex. We are dedicated to continually improving the way organizations connect, ensuring their networks are secure, reliable, and support their continued success. Our commitment lies in empowering our customers with a seamless and dependable connectivity infrastructure that safeguards their critical data and fosters business continuity. We further aim to ensure our customers have unparalleled insights into their network operations. Through our integrated suite of software solutions, we offer our customers a reliable and secure platform to support mission-critical applications running on cloud, hybrid cloud and on-premise networks. Our core offerings include SD-WAN, secure access service edge (“SASE”), and network monitoring service (“NMS”) software solutions, each of which is typically offered to our customers as a subscription service. These solutions address a broad set of network management needs and include an integrated set of capabilities to automate the complex requirements of network optimization. The market for these network services is large, global in nature and growing at attractive rates. The total global market for SD-WAN solutions and services, our core offering, was estimated by the Maia Research Report to grow from $4.5 billion in 2022 to over $17.6 billion in 2030. The Maia Research Report also projects the total market size for SASE software and platforms to expand from $6.4 billion in 2022 to $27.2 billion in 2030, and the total market for NMS to grow from $2.0 billion to $4.4 billion over the same period. Each of these individual markets are expected to grow at a compounded rate of between 10% and 20% through 2030, with SD-WAN’s projected growth rate to be approximately 18.5% through 2030. Our principal executive office is located in Salt Lake City, UT.

About Figma

Figma is where teams come together to turn ideas into the world’s best digital products and experiences. Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb. Behind each of these products is a cross-functional team responsible for bringing them to life. In Figma, designers work alongside developers, product managers (“PMs”), researchers, marketers, writers, and other non-designers who, in the three months ended March 31, 2025, made up two-thirds of our more than 13 million monthly active users(1). Together, these teams share and explore ideas, align on a vision, visualize concepts, and translate them into coded products — all on a single, connected, AI-powered platform that collaborators around the world can access with a URL. Our focus on the entire lifecycle of software creation reflects our ability to rapidly bring new products onto Figma’s browser-based platform and our belief that design spans far beyond a single step or role. We take this expansive view because design is more than how something looks, or even feels; design is also how something works — and in today’s increasingly digital-first world, what sets brands and companies apart. As AI makes software much easier to create, and as organizations across industries and geographies continue to invest heavily in digital transformation, better-designed digital products and experiences have become even more critical to a company’s success. That’s why 95% of the Fortune 500 and 78% of the Forbes Global 2000 used Figma in March 2025. These companies understand deeply that great design is what attracts and wins user loyalty, especially in a world where a business’ interactions with its customers are increasingly digital. Figma has been fortunate to play a part in, and benefit from, the growing global movement to elevate design and the craft of building software. Millions of people use Figma every week, often for hours a day, and as more users have come to our platform, our business has grown. (1) We define monthly active users as the number of unique users that access at least one of our products during a given month. A Paid Customer typically includes multiple unique users. When reporting monthly active users during a quarter or other period of time, we report the number of monthly active users during the month with the highest number of active users during such period. Our principal executive offices are located in San Francisco, California.