Canva’s valuation has come under pressure from recent institutional markdowns, with T. Rowe Price marking holdings at an implied $38.2 billion and Blackbird at $34.9 billion in 2026 filings, down from the $42 billion level set in the August 2025 secondary transaction. Annualized revenue hovers near $4 billion, but growth forecasts were trimmed to 20% for 2026 amid higher AI infrastructure costs and softer demand trends. Recent moves, including the MagicBrief acquisition and expanded ChatGPT integrations, target enterprise marketing workflows, while an IPO is eyed for 2027. These factors, alongside private-market liquidity and comparable tech valuations, frame trader sentiment on near-term valuation thresholds through year-end.