Wall Street's first wave of ratings for Figma (FIG.US) are in: taking a "wait-and-see" approach. The software product is top-notch, but the valuation is too high.

According to the AASTOCKS APP, the global software industry newcomer Figma (FIG.US) officially entered the US stock market at the end of July. On Monday, Eastern Time, several Wall Street analysts gave the company its first stock rating and target price coverage. Due to its high valuation, most analysts gave the company a neutral or perform rating, which tends to be more cautious and observant rather than optimistic "buy" or "outperform the market" ratings.