3 Beaten-Down Tech Stocks That Could Soar 33% or More, According to Wall Street

The article argues that recent sell-offs in Figma, ServiceNow, and MongoDB may be overdone, with Wall Street implying upside of roughly 114%, more than 60%, and 33%, respectively. It highlights strong fundamentals at Figma, resilient AI-related demand for ServiceNow, and solid long-term prospects for MongoDB despite weaker guidance and stock declines of 49%, over 40%, and about 37% in recent periods. Overall, the piece is constructive on all three names, though it flags Figma as the biggest question mark because of Anthropic's entry into design software.

Analysis

The common setup across all three names is not just “AI fear” or “post-IPO de-rating,” but a classic multiple reset where fundamentals are still compounding faster than the market is willing to pay for them. That creates a temporary dislocation in duration-sensitive software: the fastest winners get marked down hardest because investors are paying for operating leverage that may show up 12-24 months out, not next quarter. In that environment, the cleaner trade is to separate businesses with embedded workflow switching costs from those exposed to product-layer substitution.

Figma is the highest-beta name because the threat is more about narrative than immediate revenue leakage. If AI-native design tooling becomes “good enough,” the first casualties are new-user acquisition and seat expansion, not necessarily core enterprise retention; that means the real test is over the next 2-3 quarters in net retention and enterprise logo adds. ServiceNow is better insulated: AI is more likely to increase workflow complexity and automation demand than compress it, so the selloff looks like a sentiment air-pocket rather than a fundamental break. MongoDB sits in the middle — its risk is slower consumption growth, but AI-driven data intensity should keep the category structurally attractive, making any post-guidance collapse a probable setup for multiple re-expansion rather than a value trap.

The consensus is missing the second-order beneficiary list. If AI makes software creation cheaper, demand should broaden for orchestration, identity, observability, and data infrastructure — which helps NOW and MDB more than it hurts them. The key contrarian point on FIG is that distribution and collaboration are still social products; incumbent workflows are sticky, and new AI entrants have to earn trust inside enterprises, which usually slows displacement from weeks to years. The main risk to the bullish read is not competition but a macro-driven IT budget reset that would pressure all three simultaneously and delay the multiple recovery.

Key Decisions for Investors

• Go long NOW on a 3-6 month horizon; risk/reward is favorable because the selloff is sentiment-driven while AI should expand workflow automation demand. Use a tight stop if enterprise software budgets roll over in the next earnings season.
• Buy MDB on weakness for a 6-12 month mean reversion trade; downside is slower growth, but the category tailwind from AI data demand supports multiple re-rating. Prefer staged entry after any post-earnings gap-down.
• Treat FIG as a lower-conviction speculative long only; if initiated, size small and use call spreads rather than stock. The trade works only if retention and enterprise adoption stay intact over the next 2 quarters.
• Pair long NOW / short a basket of weaker SaaS names with more direct AI substitution risk over 2-4 months. This isolates the “AI as tailwind vs AI as threat” debate and should reduce factor beta.
• Avoid chasing the whole software complex until the next guidance cycle; if IT spending softens, the market may punish all three again before fundamentals reassert. Use any broad selloff to add to NOW first, MDB second, FIG last.