Track market-moving stories before they get noisy

Figma, Inc. (FIG) Presents at Goldman Sachs Communacopia + Technology Conference 2026 Transcript

Shares of Figma Inc. (NYSE:FIG) are trading lower Friday afternoon, extending recent weakness as broader macro headwinds hit the cloud software sector despite the company’s strong underlying fundamental momentum. Here’s what investors need to know.

Figma shares are retreating from recent levels. What’s pressuring FIG stock? Stronger Dollar and Interest Rate Fears Pressure Growth SectorShares of software companies are trading lower after August’s hotter-than-expected payrolls report increased expectations that the Federal Reserve could raise interest rates at its next meeting.

A stronger U.S. dollar and higher rate expectations are weighing on growth stocks by reducing investor appetite for higher-risk assets.

Q2 Revenue Beat and Raised Guidance Highlight AI MonetizationThe macro selling comes despite a strong second-quarter financial performance released on Aug. 5, where Figma generated revenue of $370.1 million, up 48.2% year-over-year, and delivered adjusted EPS of 8 cents, handily beating Wall Street consensus estimates for a net loss.

Driven by expanding enterprise adoption and momentum in its AI credit monetization features, management raised its full-year 2026 revenue outlook to between $1.463 billion and $1.467 billion, representing 39% year-over-year growth at the midpoint. For the third quarter, Figma projected revenue between $373 million and $375 million.

FIG Stock Falls Friday AfternoonFIG Price Action: Figma shares were down 4.16% at $24.17 at the time of publication on Friday, according to Benzinga Pro data.

Read Next

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Brendan Mulligan, General Counsel and Secretary, reported a sale of ~212,000 shares of Figma, Inc. (FIG -5.40%) in an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$6.3 millionShares sold211,599Post-transaction shares (directly held)727,952Post-transaction value$20.98 millionTransaction value based on SEC Form 4 weighted average sale price ($29.79); post-transaction value based on Aug. 28, 2026, market close ($28.82).

Key questionsWhat are the structural details of the trading plan?
The sale was conducted under a Rule 10b5-1 plan that Brendan Mulligan adopted on May 29, 2026, which allows insiders to schedule future transactions to satisfy long-term liquidity requirements.How does this disposal affect the insider's equity position?
Following the disposal of 211,599 shares, the General Counsel and Secretary maintains a direct ownership interest of 727,952 shares in the company.What were the pricing specifics of the transaction?
The execution occurred in multiple tranches at prices ranging from $28.78 to $30.76, resulting in a weighted average execution price of $29.79 per share.What was the performance of the stock at the time of the filing?
At the time of the transaction on Aug. 28, 2026, the company shares were priced at $29.79, reflecting a one-year total return of -60%.Company OverviewMetricValueShare Price (as of market close 2026-08-31)$27.49Market Capitalization$14.6 billionRevenue (TTM)$1.3 billionNet Income (TTM)-$1.5 billionCompany SnapshotFigma develops and distributes a collaborative, browser-based design platform that enables teams to design, prototype, and build digital experiences through integrated tools, including Figma Design for collaborative design workflows, Dev Mode for design-to-code translation, and FigJam for ideation and alignment.The company operates a subscription-based business model, generating recurring revenue through tiered access to its platform with varying feature sets and capabilities designed to serve different user segments and organizational needs.Figma serves design teams, product managers, and developers across enterprises and mid-market organizations seeking collaborative design solutions that streamline product development workflows and reduce time-to-market for digital products.Figma is a leading collaborative design platform with approximately 1,886 employees and a market capitalization of $14.6 billion as of Aug. 31, 2026. The company has achieved significant scale with TTM revenue of $1.3 billion, establishing itself as a critical infrastructure provider for digital product development teams globally. Figma's competitive advantage derives from its browser-based architecture, real-time collaboration capabilities, and integrated suite of design and development tools that address the full product creation lifecycle.

What this transaction means for investorsBrendan Mulligan's sale of Figma shares may alarm investors at first, as he sold 23% of his shares.

However, it may not be as concerning as it appears. Mulligan sold these shares under the Rule 10b5-1 framework, adopted in May. Thus, it was a pre-planned sale, more than likely driven by liquidity rather than by anything specific to the company or its financials that prompted him to exit.

The SaaS platform has also gained popularity for its ability to collaboratively design website and mobile app interfaces. In the first half of 2026, its revenue grew 47% year over year to $704 million, suggesting that AI has not hurt its platform.

Premium Feature

Moneyball Superscore

81/100

Today's Change

(

-5.40

%) $

-1.47

Current Price

$

25.73

Moreover, the stock declined dramatically after initially shooting higher following its July 2025 IPO. Hence, its once-elevated price-to-sales (P/S) ratio has fallen to less than 11, a valuation more attractive to prospective investors.

Indeed, situations always arise that could prompt an insider to unload shares. Nonetheless, given Figma's current condition, the stock looks more like a buy than a sell, likely meaning bearishness was not a factor in Mulligan’s insider sale.

Investors spent most of 2026 punishing design software names on fears that AI would hollow out their business models, but something shifted Thursday morning and Figma and Atlassian are suddenly leading the market higher.

Figma (NYSE:FIG) stock is up 12% to $30.27 Thursday morning, while Atlassian (NASDAQ:TEAM | TEAM Price Prediction) stock is climbing 8% to $181.71. Both names are riding a broader software bid as investors reassess artificial intelligence as a tailwind, rather than a structural threat, for design and collaboration platforms.

The Invesco QQQ Trust (NASDAQ:QQQ) is up 1.08% to $719.07, so today’s leadership sits squarely inside the application-software corner. That corner has been punished for much of 2026 on fears that generative tools would compress seat counts and pricing power at incumbent design and productivity vendors.

Figma stock was down 28% year to date (YTD) through Wednesday’s close, so this rebound is coming off a severe derating. Atlassian stock, by contrast, was up 4% YTD through Wednesday’s close, meaning the two are catching the same bid from very different starting lines.

Design Software Catches an AI Bid No company-specific catalyst has been verified for Figma today. The mechanism that checks out is continuation of the re-rating that followed Figma’s late-August results, layered onto broad-based strength across application software Thursday morning.

On August 25, Figma raised its annual revenue forecast, citing demand for AI-powered design, and its chief executive publicly pushed back on the argument that AI makes design tools obsolete. That framing is the origin of the current move, and it echoes the direction of travel investors have been hearing across creative software, including from Adobe (NASDAQ:ADBE), Figma’s most direct competitor in design.

Same Rally, Different Starting Lines Figma and Atlassian are both collaboration software names catching a strong bid, yet the identical direction hides a very different setup. Atlassian stock is grinding higher from a modestly positive year, so a 7% session simply extends an existing trend that has been in place.

Figma stock, sitting on a deep YTD drawdown, is being repriced off a much lower base. A 10% day for a name still down sharply for the year is a rebound trade off a severe derating, and that distinction matters for how investors should size their exposure.

Adobe (NASDAQ:ADBE) belongs in the frame because it is the incumbent that Figma has been measured against for years. Investors have spent much of 2026 debating whether AI-native features would erode the design-software stack (we studied the suppliers actually benefiting from the AI buildout in a free report on seven AI infrastructure names), and the recent action in both Figma and Adobe suggests that thesis is being partially unwound in favor of a monetization story.

What to Watch Investors should consider keeping their position sizes modest on Figma stock here, because the shares are still recovering from a punishing YTD move rather than confirming a durable new uptrend. Atlassian stock offers the cleaner chart of the two, but a run this quick can also invite profit-taking if the broader software bid fades.

Watch for confirmation that Figma stock holds the double-digit gain into Thursday’s close and for follow-through in Adobe shares over the next several sessions. Additional Figma commentary or filings could shape the next leg, and for now the price action is telling investors that the AI-threat narrative around design software is at least partially cracking.

Contact [email protected] for any questions or corrections.

powered by

FIG (Figma)

Buy FIG. It’s breaking out after a double-bottom at ~$16.80, reclaiming the 50-day moving average, and posting strong fundamentals: Q2 revenue +48% to $370M, customer count up to 15,964, and 80% of paid customers using AI credits weekly. The market is also starting to reward software strength again (Salesforce’s surge), and FIG’s next resistance is ~$40.

Key Risk: AI fears return and investors decide Figma’s growth is “already priced,” causing the stock to fall back below the ~$27.80 neckline.

Software rally basket (CRM/ADBE/PLTR)

Buy the group: add to Salesforce (CRM) and Adobe (ADBE) exposure alongside FIG. The article shows FIG’s rebound is tracking the broader top-software earnings/guidance momentum, and these names are benefiting from the same “AI is additive, not disruptive” narrative.

Key Risk: A broad software de-rating—earnings/guidance disappoint across the group—kills the whole rally at once.

Figma stock continued its recovery this week, reaching its highest level since March 5 this year. FIG jumped to $30.62, up by 81% from its lowest level this year, mirroring the performance of other top software companies like Salesforce, Adobe, and Palantir. 

Figma, a top player in the software industry, has come under pressure since going public last year. It dropped from a record high of $142.7 to a low of $16.80. This retreat happened as investors dumped software companies amid fears that their businesses will be disrupted by artificial intelligence tools.

Recently, however, Figma stock has rebounded as we predicted. This rebound continued on Thursday after Salesforce, a top software company, soared after its strong earnings and guidance. 

Figma’s fundamentals showed that its business was doing well and was still adding customers despite the AI fears. The most recent results showed that Figma’s revenue jumped by 48% in the second quarter to $370 million, higher than what analysts were expecting. It was also higher than what the management guided during its first quarter results. 

The company’s gross profits also jumped during the quarter. Most importantly, Figma’s number of customers continued growing and now has 15,964 customers paying $10,000 a year. 

Figma has continued to boost its business using AI tools, with 80% of paid customers using its AI credits weekly.

Analysts are optimistic that Figma’s business will continue to do well in the coming years as demand for its products rises. The average estimate is that its revenue will come in at $375 million, up by 37% from a year earlier. 

Its fourth quarter revenue is expected to grow by 27% to $388 million, bringing the annual figure to over $1.47 billion. Since going public, Figma has constantlly done better than estimates, meaning that its results will be much higher.

Analysts have started to take note, with Bank of America’s Tal Liani hiking his target from $30 to $33. He pointed out that the company may start to benefit from AI tokens and the stickiness of its platform. Citigroup has a buy rating with a target of $37, while Wells Fargo sees it rising to $36.

Figma stock chart | Source: TradingView

The daily chart shows that the FIG stock topped at $142 in August last year and then plunged to a low of $16.80. This sell-off happened amid the rising SaaSPocalypse fears.

The stock formed a large double-bottom pattern at $16.80 and a neckline at $27.80, its highest level on June 1 this year. A double-bottom is one of the most common bullish reversal signs in technical analysis.

The stock has moved above the 50-day moving average, while the Relative Strength Index (RSI) has jumoped to 67. It is hovering near its overbought level of 70.

Therefore, the stock will likely continue rising as bulls target the next key resistance level of $40, its highest point in December last year.

READ MORE: Figma stock is rising: a golden opportunity to buy at a bargain price?

Key Takeaways Figma raised 2026 revenue guidance after its first full quarter of AI credit monetization.More than 80% of Figma paid customers above $10,000 ARR consumed AI credits weekly; NDR held at 136%.FIG guided Q3 revenues to $373M-$375M as unmonetized beta products continued to pressure gross margin. Figma, Inc. (FIG - Free Report) used its second-quarter 2026 earnings call to frame AI consumption as the next expansion layer on top of seat growth, while noting that several new AI products still do not draw paid credits.

Management raised its 2026 revenue outlook after the first full quarter of AI credit monetization, but analysts focused on the modest sequential third-quarter guide and the gross-margin cost of funding beta products before monetization.

Figma Sees AI Monetization BroadeningCEO Dylan Field said the second quarter marked Figma’s first full quarter of AI monetization and described adoption as following a familiar pattern: concentrated usage among power users that broadens across organizations.

CFO Praveer Melwani said more than 80% of paid customers with over $10,000 in ARR were consuming AI credits weekly. Net dollar retention remained 136%, while roughly two-thirds of those customers added full seats at renewal.

Non-GAAP EPS of 8 cents topped the Zacks Consensus Estimate of 4 cents. Revenues of $370.10 million exceeded the consensus mark of $350.80 million and rose 48% year over year.

FIG Expands the Full-Stack Creation PushField positioned Code Layers, Figma Make and the MCP server as core pieces of Figma’s move toward a full-stack creation canvas. Write-to-Figma MCP usage rose 75% quarter over quarter.

Management also highlighted Motion, Shaders and Weave as tools extending the platform beyond interface design into animation, visual effects and AI-generated media.

More than 50% of paid customers above $10,000 in ARR were using the Figma agent weekly by July 31. More than 20% of weekly credit-consuming users on paid plans were exclusively using credits through the agent.

Figma Balances AI Costs With Margin DisciplineMelwani said non-GAAP gross profit rose 40% year over year to $314 million, while non-GAAP gross margin reached 85%, up 2.5 percentage points sequentially.

He emphasized model routing, provider optimization and first-party models as levers for lowering inference costs. Field said cost improvements would not come at the expense of quality or latency.

The agent, Make on local code, Motion, generative plugins and Code Layers do not yet consume paid credits while in beta or early access. Management said that can pressure gross margin before monetization begins.

FIG Guidance Faces Sequential Growth ScrutinyFigma guided third-quarter revenues to $373-$375 million, implying 36% year-over-year growth at the midpoint. Full-year guidance rose $40 million to $1.463-$1.467 billion, or 39% growth at the midpoint.

Goldman Sachs and Citigroup analysts pressed management on the limited sequential increase implied by third-quarter guidance. Melwani said the outlook reflects high-visibility trends and begins to lap the March 2025 pricing changes.

In response to JPMorgan, Melwani said the full-year outlook does not include revenues from products still in beta or early access that are not drawing paid credits. Figma will incorporate them only after observing monetization.

Figma Deepens Enterprise ExpansionMelwani said paid customers with more than $10,000 in ARR increased 34% year over year to 15,964, while customers above $100,000 in ARR rose 46% to 1,635. International revenues grew 50%.

He also cited enterprise customers increasing AI commitments after productivity gains and broader adoption. One technology infrastructure customer increased its purchased credit commitment fivefold from its first add-on within the quarter.

Asked by RBC whether new products drive new logos or expansion, Melwani said the larger opportunity currently centers on adding paid seats within existing enterprise plans, while the lower end has also seen stronger customer acquisition.

FIG Keeps Investment Ahead of Near-Term MarginManagement maintained full-year non-GAAP operating income guidance of $125-$135 million, equal to a 9% operating margin at the midpoint, despite raising revenue guidance.

Melwani said Figma will keep investing in product and go-to-market capacity where it can strengthen long-term advantage, even at a temporary margin cost. He also said AI tools have allowed the company to hire fewer people than originally planned.

Zacks Signals for FigmaFIG carries a Zacks Rank #2 (Buy). Its Momentum Score of B is the strongest Style Score, while the Value Score is F, the Growth Score is D and the VGM Score is F.

Zacks Style Scores complement the rank, with A and B grades preferred alongside Zacks Rank #1 (Strong Buy) or 2. FIG’s profile therefore combines a favorable rank and Momentum reading with weak Value, Growth and VGM signals. The Zacks Rank can change as earnings estimates are revised after the just-reported results. You can see the complete list of today’s Zacks #1 Rank stocks here.

Investors Abandoned These 3 AI Stocks Too Early, Says Jeff ClarkFigma NYSE: FIG reported second-quarter 2026 revenue of $370 million, up 48% from a year earlier, as the company recorded its third consecutive quarter of accelerating growth and its first full quarter of AI credit monetization.

Co-founder and CEO Dylan Field said companies are “doubling down on Figma” as they adapt product-development workflows for artificial intelligence. The company ended the quarter with $1.7 billion in cash equivalents and marketable securities.

Get Figma alerts:

Financial Results and Outlook 3 Sectors to Buy While They're Down and 1 to Walk Away FromFigma’s net dollar retention rate for paid customers with more than $10,000 in annual recurring revenue was 136% in the second quarter. Chief Financial Officer Praveer Melwani said approximately two-thirds of those customers added full seats at renewal, while gross retention remained in the mid- to high-90% range.

Paid customers with more than $10,000 in annual recurring revenue increased 34% year over year, while customers with more than $100,000 in annual recurring revenue rose 46%. International revenue grew 50% from a year earlier.

Insiders Step in to Buy These 3 Tanking StocksOn a non-GAAP basis, gross profit totaled $314 million, up 40% year over year, and gross margin reached 85%, improving 2.5 percentage points sequentially. Non-GAAP operating income was $36 million, representing a 10% operating margin. Free cash flow was $53 million, or a 14% margin.

Melwani said the company’s annual Config user conference, which drew more than 10,000 community members in San Francisco during the quarter, affected both operating income and free cash flow. Increased AI inference costs were also the largest driver of the year-over-year change in free cash flow.

For the third quarter, Figma forecast revenue of $373 million to $375 million, representing 36% growth at the midpoint. The company raised its full-year revenue outlook by $40 million to a range of $1.463 billion to $1.467 billion, implying 39% growth at the midpoint. It maintained its full-year non-GAAP operating-income outlook of $125 million to $135 million.

Melwani said the full-year revenue increase reflects strength in monetized AI credit consumption, customer conversion and expansion, as well as early signals from recently launched products. However, products still in beta or early-access programs are not included in the outlook because they do not yet consume paid credits.

AI Monetization and Product Expansion Figma began applying credit limits to all seats in mid-March, with customers able to buy additional credits through add-on subscriptions or pay-as-you-go arrangements. As of the end of the second quarter, more than 80% of paid customers with over $10,000 in annual recurring revenue were consuming AI credits weekly, according to Melwani.

Field said the company is expanding the potential uses of AI across design and software-development workflows. In June, Figma announced Code Layers, a planned early-access feature that will allow interactive code to exist on the Figma canvas, enabling teams to edit code, manipulate it visually and compare code-backed prototypes side by side.

The company is also expanding Figma Make, including an ability introduced in May for teams to work directly in production code bases. Field said 1Password uses Figma from prototyping through code that is deployed to production.

Figma’s Model Context Protocol, or MCP, server is intended to let teams move work between Figma and external tools. Usage of MCP write-to-Figma capabilities rose 75% sequentially in the second quarter, Field said.

Other new capabilities include Figma Motion for animations, Shaders for generating and editing visual effects, and Weave for refining AI-generated visual media on the canvas. Field said these features could expand Figma’s reach to audiences including in-house brand designers and creative agencies.

Agent Adoption and Cost Management Figma’s agent entered open beta in June. As of July 31, more than half of paid customers with over $10,000 in annual recurring revenue were using the Figma agent weekly, according to Field. More than 20% of weekly credit-consuming users on paid plans were exclusively consuming credits through the agent.

The company also reported that weekly creation of generative plugins had more than doubled from levels before the feature’s launch. Generative plugins allow users to describe a needed tool, which the agent can create for teams to reuse.

Melwani said Figma is investing in model routing, provider optimization and first-party models trained on its design corpus. The company seeks to improve quality and latency while reducing inference costs, though it expects gross margin to vary quarter to quarter as it funds usage of products in beta before monetizing them.

“We do not charge our customers for their usage of products that are currently in beta, and we bear the cost of inference without offsetting consumption revenue,” Melwani said.

Figma has begun rolling out user-level AI credit limits, providing administrators more control over credit allocations. Executives said customers want greater choice, governance and visibility into the return on AI spending.

Leadership Changes Field announced several leadership transitions. Chief Technology Officer Kris Rasmussen will become chief architect and focus on business-critical engineering challenges, beginning with the Figma agent. The company has started a search for a new CTO, while the engineering teams responsible for AI and editor efforts will report directly to Field in the interim.

Security leader Dev Akhawe will become chief security officer. Chief Product Officer Yuhki Yamashita will depart after seven years to take extended time off, with Chief Design Officer Loredana Crisan expanding her responsibilities to lead the product function. Chief Marketing Officer Sheila Vashee will leave at the end of August, and Chief Communications Officer Nairi Hourdajian will become CMO.

About Figma (NYSE:FIG)Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform's real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Should You Invest $1,000 in Figma Right Now?Before you consider Figma, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Figma wasn't on the list.

While Figma currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2026. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.

Get This Free Report

5.44K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Figma stock dropped sharply after the company published its earnings report, which showed that its artificial intelligence costs soared. FIG dropped to $22.3, down substantially from this week’s high of $27.80. So, is it safe to buy the dip or sell the rip?

Figma, a top company in the design industry, is seeing strong growth despite the ongoing concerns about AI disruption. 

Its revenue growth is accelerating, with more companies moving to its ecosystem, and the management expects the growth to continue as it continues to monetize its AI tools.

The company said that its revenue jumped by 48% in the second quarter to $370 million, making it one of the fastest growing companies in the industry. This is strong numbers for a company that was started in 2012. 

The number of companies paying $10,000 jumped to 15,964 in the last quarter from 11,906 in the same period last year. Also, those paying $100,000 rose to 1,635, and this growth will continue because Figma usually improves the productivity of its clients.

Analysts expect that Figma’s business will continue to grow in the future. The consensus view is that its revenue will come in at $374 million in the third quarter, up by 36% YoY. In reality, however, Figma tends to do better than estimates. 

For the year, analysts expect the results to show that the annual revenue will come in at $1.47 billion, up by 38% YoY. It is expected to move to $1.77 billion in the following year.

Figma stock dropped because of the rising costs as the company boosts its AI investments. Its soaring costs pushed its GAAP net loss to $112 million in the last quarter. Also, the GAAP loss from operation rose to $117.3 million. In a statement, the CEO said:

“This is the right moment to lean into investment, given the strong signals we see. The question we ask ourselves is whether investment, in product and go-to-market, increases the likelihood that Figma builds a durable advantage over the long-term, even at the temporary cost of near-term margin.”

Top analysts tracking the company have been slashing their estimates, citing the cost aspect and fear that its business will be disrupted by AI tools. Citigroup slashed the target from $36 to $35, while Wells Fargo cut it from $42 to $36.

On the positive side, the company continues growing, and its technicals suggest that a rebound may be about to happen.

FIG stock chart | Source: TradingView

On the positive side, there are signs that FIG stock dropped sharply after its earnings report. It moved from a high of $27.80 on Wednesday to to the current $24.50. 

The stock still sits above the 50-day Exponential Moving Average (EMA). Also, it has formed an inverted head-and-shoulders pattern, a common bullish reversal pattern in technical analysis. It also formed a double-bottom pattern.

The stock has also formed a small cup-and-handle pattern. Therefore, the stock will bounce back, potentially to the psychological level of $50. 

Chief Technology Officer Kris Rasmussen disclosed a sale of ~261,000 shares of Figma, Inc. (FIG -13.94%) at $25.07 per share on July 29, 2026, according to a recent SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$6.6 millionShares sold261,301Post-transaction shares (directly held)9,492,946Post-transaction value$235.05 millionTransaction value based on SEC Form 4 weighted average sale price ($25.07); post-transaction value based on July 29, 2026 market close ($24.76).

Key questionsWhat was the nature of the transaction?
The sale was non-discretionary and structured through a Rule 10b5-1 trading plan established in August 2025, which allows insiders to set up a pre-arranged schedule for selling stocks to address personal liquidity needs.What is the insider's remaining exposure to Figma?
Following this sale, Kris Rasmussen retains ~9.5 million shares in direct ownership, which corresponds to a 0.0008% ownership percentage of the company.How has the company performed financially leading into this transaction?
Figma develops collaborative, browser-based design software and reported trailing-twelve-month revenue of $1.2 billion alongside a net loss of $1.5 billion.Company OverviewMetricValueShare Price (as of market close 2026-07-30)$23.76Market Capitalization$11.6 billionRevenue (TTM)$1.2 billionNet Income (TTM)-$1.5 billionCompany SnapshotFigma develops and operates a collaborative, browser-based design platform that enables teams to design, prototype, and build digital experiences through integrated tools including Figma Design for collaborative design workflows, Dev Mode for code inspection and translation, and FigJam for ideation and alignment.The company generates revenue through a subscription-based software-as-a-service (SaaS) model, providing tiered access to its design and collaboration platform for individual designers, design teams, and enterprise organizations.Figma's primary customers include design teams, product development organizations, and enterprises across technology, media, financial services, and other sectors seeking collaborative design and prototyping capabilities.Figma operates as a leading collaborative design platform serving a global market of design professionals and product teams. The company's cloud-native architecture and browser-based accessibility provide competitive advantages in enabling seamless cross-functional collaboration without requiring local software installation.

With 1,886 employees and a market cap of $11.6 billion, Figma continues to establish itself as a critical infrastructure provider in the digital product development ecosystem.

What this transaction means for investorsThe July 29 sale of Figma shares by Kris Rasmussen occurred amidst a 79% decline in price over the past year as of the transaction date. However, as a non-discretionary disposition executed as part of a Rule 10b5-1 plan, the sale doesn’t reflect a change in Rasmussen’s investment stance.

A Rule 10b5-1 plan allows corporate insiders to schedule share sales in advance to mitigate potential concerns regarding the use of material non-public information. Moreover, Rasmussen retained 9.5 million shares post-transaction, a substantial equity holding ensuring continued alignment with shareholder interests.

Figma stock is down after Wall Street became concerned artificial intelligence would wipe out the need for SaaS offerings, resulting in a sell-off earlier this year. Despite this fear, Figma is showing no slowdown in customer demand for its products.

In the second quarter, the company reported a whopping 48% year-over-year increase in sales to $370.1 million. It also raised its full-year guidance.

Figma management recently announced Kris Rasmussen’s departure from the Chief Technology Officer role to take over as Chief Architect.

Robert Izquierdo has positions in Figma. The Motley Fool has positions in and recommends Figma. The Motley Fool has a disclosure policy.

6.8.2026 14:33, FIG

Tvůrce softwaru pro design Figma zveřejnil hospodářské výsledky za druhé čtvrtletí roku 2026. Výnosy překonaly odhady analytiků. Výhled na třetí čtvrtletí však Wall Street zklamal, a to i přesto, že číselně překonal konsenzus. Podle analytiků výhled implikuje jen mírný mezikvartální přírůstek výnosů oproti předchozím čtvrtletím a signalizuje zpomalení růstu monetizace AI kreditů.

Výsledky společnosti Figma (FIG) za 2Q 2026   2Q 2026 Konsensus 2Q 2026 2Q 2025 Výnosy (mld. USD) 0,37 0,35 0,25 Čistý zisk (mld. USD) -0,11 -- 0,03 Zisk na akcii (EPS, USD/akcie) -0,21 -0,30 0,00 Výsledky za čtvrtletí Výnosy meziročně vzrostly o 48 % na 370,1 mil. USD, nad odhadem 351,5 mil. USD.

Výnosy, zdroj: Figma

Provozní marže dosáhla -32 % oproti 1 % ve stejném období loňského roku, ve srovnání s prvním čtvrtletím 2026 (-41 %) se však zlepšila.

Hotovost, peněžní ekvivalenty a obchodovatelné cenné papíry dosáhly 1,7 mld. USD, meziročně +6,3 %.

Počet placených zákazníků s ročním opakujícím se výnosem (ARR) nad 100 000 USD dosáhl 1 635, meziročně +46 %, nad odhadem 1 608.

Počet placených zákazníků s ARR nad 10 000 USD dosáhl 15 964, meziročně +34 %, nad odhadem 15 818.

Počty placených zákazníků, zdroj: Figma

Výhled na 3Q 2026 Společnost pro třetí čtvrtletí roku 2026 očekává:

Výnosy 373,0–375,0 mil. USD (konsensus: 365,1 mil. USD). Výhled na FY 2026 Firma zvýšila výhled pro celý rok 2026 a nyní predikuje:

Výnosy 1,46–1,47 mld. USD (dříve: 1,42–1,43 mld. USD; konsensus: 1,44 mld. USD). Komentář analytiků Billy Fitzsimmons z Piper Sandler (doporučení overweight) uvedl, že propad akcií souvisí se středem výhledu na 3Q, který implikuje mezikvartální nárůst výnosů jen o zhruba 4 mil. USD, spolu s nezměněným výhledem provozního zisku pro celý fiskální rok 2026. Podle analytika výhled odráží mírnější mezikvartální růst využívání kreditů po počátečním monetizačním impulzu ve 2Q.

Samik Chatterjee z JPMorgan (doporučení neutral) uvedl, že společnost zdůraznila zpomalení meziročního růstu i skromný mezikvartální růst výnosů, přičemž výhled na 3Q implikuje jen zhruba 4 mil. USD mezikvartálního růstu a střed zvýšeného celoročního výhledu je jen mírně nad jeho předchozí prognózou i přesto, že výnosy za 2Q překonaly jeho odhad o zhruba 10 mil. USD.

J. Parker Lane ze Stifel (doporučení hold) uvedl, že mezikvartální přírůstek implikovaný výhledem na 3Q je nejnižší, jaký společnost poskytla od svého IPO, což podle něj odráží určitou konzervativnost ohledně přínosů nových produktů, snahu zachovat flexibilitu v cenových a balíčkových rozhodnutích a tlak srovnávací základny z loňských cenových úprav.

Arjun Bhatia z William Blair (doporučení outperform) uvedl, že výhled na 3Q počítá jen se 4 mil. USD přírůstkových výnosů oproti druhému čtvrtletí, ve srovnání s 37 mil. USD přidanými v tomto čtvrtletí a 30 mil. USD v čtvrtletí předchozím. Důvodem konzervativního výhledu jsou podle analytika plánované změny ve spotřebě kreditů.

Akcie Figma Akcie Figma (FIG) v předburzovní fázi obchodování klesají o 14,07 % na 24,19 USD.

Akcie Figma Inc (FIG) včera vzrostly o 3,8 % na 28,15 USD Ukazatel   Ukazatel   Kapitalizace (mld. USD) 15,0 P/E -- Vývoj za letošní rok (%) -24,7 Očekávané P/E 97,7 52týdenní minimum (USD) 16,6 Prům. cílová cena (USD) 30,6 52týdenní maximum (USD) 91,5 Dividendový výnos (%) -- Zdroj: Figma, Bloomberg

Michal Šnobl, Fio banka, a.s.

Figma, Inc. (FIG - Free Report) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to a loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this company would post earnings of $0.06 per share when it actually produced earnings of $0.1, delivering a surprise of +66.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Figma, Inc., which belongs to the Zacks Internet - Software industry, posted revenues of $370.08 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 5.50%. This compares to year-ago revenues of $249.64 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Figma, Inc. shares have lost about 27.4% since the beginning of the year versus the S&P 500's gain of 13%.

What's Next for Figma, Inc.?While Figma, Inc. has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Figma, Inc. was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.06 on $361.92 million in revenues for the coming quarter and $0.26 on $1.43 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, nCino (NCNO - Free Report) , is yet to report results for the quarter ended July 2026.

This company is expected to post quarterly earnings of $0.28 per share in its upcoming report, which represents a year-over-year change of +27.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

nCino's revenues are expected to be $158.98 million, up 6.8% from the year-ago quarter.

Figma stock is taking a hit today. What’s weighing on FIG shares? Figma Q2 HighlightsFigma reported second-quarter revenue of $370.08 million, beating estimates of $351.56 million, per Benzinga Pro. The collaborative web-based software company reported adjusted earnings of eight cents per share, beating estimates of four cents per share.

Total revenue was up 48% year-over-year. Figma generated $60.9 million of net cash from operations and $53.2 million of free cash flow during the quarter.

“Q2 was Figma’s third straight quarter of accelerated revenue growth, and as code gets commoditized and value moves up the stack, the opportunity ahead of us has only grown,” said Dylan Field, CEO of Figma.

Figma had 15,964 paid customers with more than $10,000 in ARR and 1,635 paid customers with more than $100,000 in ARR as of June 30.

Figma said it expects third-quarter revenue to be in the range of $373 million to $375 million versus estimates of $364.87 million. The company also raised its full-year revenue outlook from a range of $1.422 billion to $1.428 billion to a new range of $1.463 billion to $1.467 billion, versus estimates of $1.437 billion.

“Net Dollar Retention Rate remained strong at 136% as customers expanded both seats and AI credit add-ons. The strength of these signals gives us the confidence to raise our full year revenue outlook while continuing to invest behind the products we introduced at Config,” said Praveer Melwani, CFO of Figma.

Figma executives will further discuss the quarter on an earnings call set for 5 p.m. ET.

FIG Shares Face Heavy Selling PressureFIG Price Action: Figma shares were down 16.52% in after-hours Wednesday, trading at $23.50 at the time of publication, according to Benzinga Pro.

Image: Shutterstock.com

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Figma lifted its annual revenue forecast on Wednesday, encouraged by strong demand for its design software ​products, as the company's efforts to integrate AI in its ‌tools helped attract and retain more users.

The premise is clever enough. Figma (FIG +1.29%) lets members of a team working from different computers -- even working in different locations -- design, edit, and even test user interfaces for mobile apps, websites, and slide decks. Clearly there's demand for such digital tools.

There's also a significant challenge this company's business, however, that will never go away. Indeed, the more Figma's business grows, the bigger this challenge gets.

Nothing to stop competitors from stepping up Online collaboration tools aren't exactly new, or unique. Platforms like Slack, Dropbox, Microsoft Teams, and Monday.com (just to name a few) are in this category.

To its credit, however, Figma is different than most of them in that it facilitates the simultaneous co-development of a visual interface, allowing team members to create and make changes to an app's interface or website design. As of March, the company was serving over 15,000 customers paying at least $10,000 per year for access to this technology, and serving over 1,500 paying customers worth more than $100,000 in annual revenue. Both numbers were well up year over year, extending existing trends.

Image source: Getty Images.

It's not the only name in the visual collaboration business, though. While they're not household names, platforms like Penpot, Uizard, Adobe's XD, UXPin, and Sketch -- again just to name a few (many of which are free) -- are growing their user bases as well.

Perhaps the greater threat, though, is growing interest in the visual prototyping space from bigger and better-funded players like Google, or the aforementioned Microsoft. Both are among the many that could build their own alternative, or simply acquire a third-party provider and integrate that solution into their existing suite of office productivity software.

See, there's no copyright or patent protection of a mere idea for what software is supposed to do, or how it does it -- anybody can push their way deep into this business. Eventually, somebody's going to do so. It's already happening, in fact, with the help of artificial intelligence-coded solutions.

Fiscal results are moving in the wrong direction Then there's the other thing. That's the fact that while Figma may be growing its customer head count as well as its revenue, it's spending a fortune to do so.

The chart below tells the tale. Although erratic, generally speaking, the company's losses are getting bigger as it grows, largely due to soaring spending on research and development (R&D), sales and marketing, and general and administrative costs. After being commercialized for a decade, one would expect this heavy degree of profit-destroying spending to be in the rearview mirror.

FIG Revenue (Quarterly) data by YCharts

This may or may not always be the case. As it stands right now, however, it's arguable that the company is simply buying more growth than it's actually winning or earning with its existing portfolio of products. It remains to be seen if Figma can compete cost-effectively.

Just too much risk right now None of this is to suggest Figma can't or won't push through these challenges. Anything's possible. There seems to be too much risk, though, and not enough assurance of an adequate reward for taking that risk. I'd pick many other stocks over this one for the foreseeable future, waiting for proof that this business can actually be reliably profitable.

James Brumley has positions in Alphabet. The Motley Fool has positions in and recommends Adobe, Alphabet, Dropbox, Figma, Microsoft, and Monday.com. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.

Shares of the software company Figma (FIG +4.20%) tumbled 16.5% this week, according to data provided by S&P Global Market Intelligence, as investors continue to worry that artificial intelligence companies will disrupt software stocks.

Figma reports its second-quarter results early next month, and investors don't appear eager to wait around and find out how the company is navigating the increasingly complex AI software space.

Image source: Getty Images.

No room for error It's not uncommon for some shareholders to sell ahead of an earnings report if they're concerned about an unusually poor quarter or the overall direction of the company.

In Figma's case, the company's shares are trading at a premium compared to the broader tech sector, leaving little room for error in the quarterly results. Figma stock has a forward price-to-earnings (P/E) ratio of 158, which is quite a premium when shareholders are already worried that AI could replace some of the company's services.

There's no question that AI is becoming more capable, with news surfacing this week that an unreleased OpenAI ChatGPT model went rogue during a cybersecurity test and hacked another website to try to find answers to the test. Even though Figma isn't a cybersecurity company, the incident underscores that AI models are far more sophisticated than many software companies' services.

Figma is showing signs of life, however, even if its falling stock price doesn't reflect that. First-quarter revenue rose 46% from the year-ago quarter to $333.4 million, net dollar retention was 139%, and Figma management raised the company's full-year guidance to more than $1.4 billion -- a 35% increase year-over-year.

Still, it clearly hasn't been enough to ease investors' concerns. Anthropic launched Claude Design at the end of April, and it directly competes with Figma's platform. The sell-off this week shows that shareholders aren't yet confident that Figma can outlast its AI rivals.

Today's Change

(

4.20

%) $

0.84

Current Price

$

20.84

More insight is coming If you're trying to decide whether to buy shares of Figma right now, it's probably best to wait until after the company's second-quarter results are released on Aug. 5.

Personally, I'd probably wait a few quarters before considering buying shares, to see how well the company adapts to its new competition and if it can continue retaining customers -- and adding new ones -- amid the rollout of Anthropic's Claude Design.

At this point, Figma will have to report some very impressive results to ease investor fears.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

© metamorworks / Shutterstock.com

Figma (NYSE:FIG) has whipsawed from post-listing euphoria into a brutal reset. After a punishing drawdown, the setup is more interesting than the recent price action suggests. Our analysis points to meaningful upside from current levels, driven by 46% top-line growth, a rebuilt valuation, and consensus quietly settled around a target well above the current price.

The 24/7 Wall St. price target for Figma is $30.56 over the next 12 months, implying 30.04% upside from the recent close of $23.50. Our recommendation is buy, with medium confidence.

24/7 Wall St. Price Target Summary Metric Value Current Price $23.50 24/7 Wall St. Price Target $30.56 Upside 30.04% Recommendation BUY Confidence Level Medium (approximately 60%) From a $50 Billion Wipeout to a Cautious Comeback Figma is down 79.65% over the past year and 37.12% year to date, having collapsed from a 52-week high of $142.92 to a low of $16.60. Shares are up 26.96% in the past month and 8.44% in the past week.

The turn is grounded in fundamentals. Q1 2026 revenue hit $333.44 million, growing 46% year over year, with a GAAP net loss of $142.4 million largely from stock-based compensation. CEO Dylan Field sold 174,430 shares on May 29, 2026 under a pre-arranged 10b5-1 plan. The next earnings report lands August 5, 2026.

Why Bulls See a Path to $40+ The bull case rests on hypergrowth, category dominance, and AI leverage. Revenue growing 46% nearly doubles what mature design software peers deliver. J.P. Morgan and RBC hold $28 price targets, while Piper Sandler projects profitability by year-end 2026.

If Figma monetizes AI-native design tools and paid subscribers expand, a bull scenario multiple of 13x forward sales supports $40 or higher.

The Risks Worth Watching Figma trades at 10.76x sales while losing money, and its EV/EBITDA of 441x is not a real multiple. Insider sales from the CEO, CFO, CRO, and CTO between May and June signal capped near-term enthusiasm.

The same investor newsletter that told subscribers to buy Amazon in 2002, Netflix in 2004, and Nvidia in 2005 still publishes two new stock picks every month. Over 23 years, Motley Fool's Stock Advisor has more than quadrupled the S&P 500. New members get this month's picks, the Top 10 Rankings, and a 30-day money-back guarantee. Click here to unlock their next top stocks while new members are still being accepted.

Bulls counter that these were pre-arranged 10b5-1 sales, and stock-based comp drove the GAAP loss. A downside scenario with multiple compression to 6x sales points to roughly $15.

How Figma Compares to Adobe and Autodesk Adobe (NASDAQ:ADBE | ADBE Price Prediction) is the direct incumbent in creative software. Adobe posted Q2 FY26 revenue of $6.62 billion growing 13% with non-GAAP EPS of $5.96, and trades at roughly 3.4x forward sales. Figma grows more than three times faster but at three times the sales multiple, making our target reasonable rather than aggressive.

Autodesk (NASDAQ:ADSK) is the design-and-make comparable. Autodesk posted Q1 FY27 revenue of $1.93 billion up 18.4% at roughly 5.4x forward sales. Figma’s premium over Autodesk is justified by the growth gap but leaves less room for execution error.

Company Revenue Growth P/S (approx.) Figma 46% 10.76x Adobe 13% 3.4x Autodesk 18% 5.4x Figma Price Prediction 2026-2030 The 24/7 Wall St. price target of $30.56 implies buy with medium confidence. Growth, sentiment recovery, and consensus anchor the upside.

I’d be a buyer if the August 5 earnings report confirms revenue growth staying above 40% and paid subscriber momentum continues. I’d stay on the sidelines if Figma guides down or gross margin compresses. The risk-reward tilts constructive.

Year 24/7 Wall St. Price Target 2026 $30.56 2027 $38.00 2028 $46.00 2029 $54.00 2030 $62.00 These projections assume Figma sustains 25% to 35% annual revenue growth and reaches GAAP profitability by 2027. Significant upside or downside could result from AI-driven design disruption or aggressive competition from Adobe and Canva.

If You'd Bought Amazon When the Motley Fool Said To…In September 2002, Stock Advisor told subscribers to buy Amazon. In December 2004, Netflix. In April 2005, Nvidia. The newsletter still publishes two new stock picks every month — and over 23 years, has more than quadrupled the S&P 500. Here's how to get this month's picks:

- Join Stock Advisor for one year, with a 30-day money-back guarantee

- Get this month's two new picks — plus the Top 10 Rankings and the full historical pick list

- Read the analysis, decide for yourself, and trade through your own brokerage

Five years from now, you'll probably wish you'd bought this month's picks. Don't miss them.

Contact [email protected] for any questions or corrections.

Figma stock has staged a modest comeback in the past few days, moving from a record low of $16.80 to the current $23.65.

This rebound may continue in the coming weeks after the stock formed a double-bottom pattern and as its earnings report looms. 

The daily chart shows that Figma’s tide is turning after months of falling. It formed a double-bottom pattern at $16.80, its lowest level in April and June this year. Its neckline was at $27.80, its highest point on June 1 this year.

The stock has now moved above the 50-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) has jumped to 61 from the year-to-date low of 17.83. 

Therefore, the stock will likely continue rising in the near term, potentially to the key resistance at $27.80.

A move above that level will point to more gains, potentially to the Ultimate Resistance of the Murrey Math Lines of $31.25, which is about 35% above the current level. 

Figma Inc. stock chart | Source: TradingView

Figma is a top player in the software industry, where it offers a platform that simplifies how companies design. It is used widely by companies of all sizes, including giants like Google, Airbnb, Atlassian, Microsoft, GitHub, and Duolingo. 

Its stock initially jumped after its IPO last year and then started a strong downward trend, reaching a record low this year.

This retreat happened as investors dumped software companies in a process that has become known as the SaaSApocalypse. Other top software companies like Atlassian, Adobe, Autodesk, and ServiceNow have plunged.

In reality, however, Figma’s business has continued to grow as more companies have embraced its solution.

Its last financial results showed that its revenue jumped by 46% in Q1 to $333.4 million, higher than its previous guidance.

The company’s results showed that its business continued to attract clients despite the AI disruption. The number of companies paying over $10,000 jumped to 15,218 from 11,107 in the same period last year.

Those paying $100,000 and above jumped to 1,525 from 1,031. Notably, the company received an order from one hyperscaler that added 35,000 paid seats during the quarter.

Instead of being disrupted by AI, the company is using this technology to improve and monetize its solution. For example, it started to implement AI credit limits for all its customers in March, without experiencing any significant churn.

The management team expects that the upcoming earnings report will show that its business continued growing in Q2.

Its guidance is that its revenue will be between $348 million and $350 million, up by 40% YoY. 

It expects its annual revenue to be between $1.422 billion and $1.428 billion, representing a 35% YoY growth. The real figure will likely be higher than that, as the management tends to be highly conservative.

Most analysts have a price target that is higher than the current one. Bank of America analysts have a target of $30, while Wells Fargo’s Michael Turrin has a target of $36.

Piper Sandler, Citigroup, and JPMorgan analysts have targets of above $30.

Figma does have some challenges. For example, competition continues to rise, with companies like Sketch and Adobe being major ones.

Also, it is still losing money, with its loss from operations rising to $137 million in the first quarter. Its valuation is still high, with its forward price-to-sales ratio rising to 7.7. 

Shares of Figma (FIG 5.26%) fell 51.6% in the first half of 2026, according to data from S&P Global Market Intelligence.

The collaborative design platform posted excellent financial results, but investors spent the first half of the year worrying about what AI might do to the business.

Today's Change

(

-5.26

%) $

-1.17

Current Price

$

21.09

Great quarter, rough six months Figma's Q1 2026 report in mid-May was impressive by most measures. Revenue rose 46% year over year to $333.4 million. Non-GAAP earnings per share came in at $0.10, nearly doubling the $0.06 consensus estimate. Net dollar retention hit 139%, the highest level in over two years. Management raised full-year revenue guidance by $55 million.

The stock jumped 10% after hours on the news. But the relief was short-lived. June happened, and shares lost 29% in a single month.

The culprit? Fear of AI-native competition, particularly Anthropic's Claude Design. The fear is that generative AI could commoditize design work, making Figma's collaborative platform less essential over time. It's a legitimate question, but one that Figma's actual results haven't validated yet.

Management is working to integrate AI features and monetize them through credit-based pricing, but investors remain skeptical.

Image source: The Motley Fool.

Figma started charging for AI credits in mid-March. Early signs were positive: over 75% of enterprise users who hit their limits kept paying for more. Teams buying AI add-ons spend more than three times as much annually as those who don't. CEO Dylan Field has emphasized that Figma's multiplayer canvas and deep product context give it advantages that AI-only tools can't easily replicate.

But the narrative around potential AI disruption proved more powerful than the numbers.

Activist investor Findell Capital piled on in late May, calling the stock "significantly undervalued" and urging management to examine its relationship with Anthropic. A securities law investigation announced in March added to the noise. None of this helped the stock find its footing.

Not cheap, but worth a premium price Figma's stock isn't cheap. Trading at 47 times free cash flow and 62 times forward earnings, the valuation still soars in the stratosphere even after the recent price drops.

But that's typical for a company growing revenue at 46% year over year with improving profitability. The company has $1.6 billion in cash and nearly 690,000 paid customers with strong upsell dynamics. Switching costs are real, whether you're moving to other collaborative design platforms or to newfangled AI prompts.

Think of Figma as an AI-fueled Adobe (ADBE +0.50%) for teams. The product is embedded in enterprise workflows. AI-native tools might erode that moat over time, but the revolution won't be quick. Can Figma stay ahead by building AI into its own platform?

It's probably not the time to back up the truck and load up on Figma stock. But this innovative growth story is worth keeping on the watch list. Q2 earnings in August should offer more clarity on whether the AI threat is real or overblown.

Anders Bylund has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Adobe and Figma. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.

The pullback looks more like consolidation after that pop than a clean reversal of the longer-term downtrend. Figma is still working back from a drawdown of about 85% from its 52-week high, a setup that can keep volatility elevated on red-market days.

Figma stock is trending lower. Why is FIG stock trading lower? What Is Driving Figma’s Stock Today?Figma’s bull case is also leaning on a growth-versus-peers valuation argument, with the stock framed at 8x estimated 2027 EV/sales versus a peer average around 5.9x. Bank of America also modeled revenue growth of 35.6% in 2026 and 23% in 2027, versus peer averages of 19.3% and 15.7%.

Critical Price Levels To Watch For FIGFrom a trend perspective, FIG is still trying to repair damage after a steep 12-month slide of 81.25%, and the longer-term moving averages remain a headwind. The stock is trading about 31.8% below its 200-day SMA ($31.80) and about 1.7% below its 100-day SMA ($22.06), even though it’s holding above the 20-day SMA ($19.36) and 50-day SMA ($20.46).

The moving-average structure is still bearish: the 20-day SMA is below the 50-day SMA, and the death cross (50-day below 200-day) that formed in January is still in place. That said, MACD is above its signal line with a positive histogram, which suggests downside pressure is easing versus the prior downswing (it’s a momentum "improving" read, not a full trend flip by itself).

Key Resistance: $25.50 — a nearby pivot area where rebounds can stall before the stock can reclaim longer-term trend levels Key Support: $18.00 — a nearby zone close to where buyers have previously stepped in, not far above the $16.60 52-week low How Figma Operates in the Digital Product SpaceFigma is focused on turning ideas into digital products and experiences, with a browser-based platform that spans more of the software creation lifecycle than "design" alone. It sells subscriptions for access to its platform, which is why enterprise adoption and retention metrics tend to matter as much as near-term product headlines.

That business framing is central to the AI debate: the bullish view is that AI increases the number of people building digital products and makes workflows more complex, pushing teams toward a centralized collaboration layer.

Figma Stock Price Movement TodayFIG Stock Price Activity: Figma shares were down 2.79% at $21.57 at the time of publication on Wednesday, according to Benzinga Pro data.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Figma (NYSE:FIG) was reinstated with a ‘Buy’ rating and a $30 price objective by Bank of America, with the firm arguing that artificial intelligence is likely to strengthen the company's competitive position rather than undermine it.

Shares of Figma traded higher on the news, adding more than 7% at about $23 on Tuesday afternoon.

Bank of America analysts wrote that concerns over generative AI disrupting the design software market have weighed on the stock, but they believe AI is more likely to act as a tailwind by expanding demand for collaborative workflows.

The firm also pointed to progress in Figma's transition toward a hybrid consumption- and seat-based pricing model as a potential driver of additional monetization.

The analysts wrote that while AI can speed up content creation, it also increases the need for platforms that enable teams to collaborate, coordinate and move AI-generated work into production environments. They expect this trend to reinforce Figma's strategic role as more individuals and organizations adopt AI tools.

Bank of America also cited early signs that AI-related products are contributing to growth. According to the firm, 75% of enterprise customers purchased additional AI credits after exceeding their initial allocations during the first quarter of fiscal 2026, which the analysts wrote reflects strong engagement and willingness to pay for AI capabilities.

The firm noted that enterprise customers generating more than $100,000 in annual recurring revenue increased 48% year over year, while net dollar retention stood at 139% and paid-user growth reached 54%.

Bank of America said it expects Figma's revenue to grow 36% in fiscal 2026 and 23% in fiscal 2027. The firm values the company at 8 times estimated calendar 2027 enterprise value-to-sales, citing what it views as a premium growth profile despite expected near-term margin pressure from AI investments.

The analysts wrote that key risks to their outlook include slower-than-expected adoption, increased competitive pressure and weaker monetization of AI offerings.

Figma (NYSE:FIG) was reinstated with a ‘Buy’ rating and a $30 price objective by Bank of America, with the firm arguing that artificial intelligence is likely to strengthen the company's competitive position rather than undermine it.

Shares of Figma traded higher on the news, adding more than 7% at about $23 on Tuesday afternoon.

Bank of America analysts wrote that concerns over generative AI disrupting the design software market have weighed on the stock, but they believe AI is more likely to act as a tailwind by expanding demand for collaborative workflows.

The firm also pointed to progress in Figma's transition toward a hybrid consumption- and seat-based pricing model as a potential driver of additional monetization.

The analysts wrote that while AI can speed up content creation, it also increases the need for platforms that enable teams to collaborate, coordinate and move AI-generated work into production environments. They expect this trend to reinforce Figma's strategic role as more individuals and organizations adopt AI tools.

Bank of America also cited early signs that AI-related products are contributing to growth. According to the firm, 75% of enterprise customers purchased additional AI credits after exceeding their initial allocations during the first quarter of fiscal 2026, which the analysts wrote reflects strong engagement and willingness to pay for AI capabilities.

The firm noted that enterprise customers generating more than $100,000 in annual recurring revenue increased 48% year over year, while net dollar retention stood at 139% and paid-user growth reached 54%.

Bank of America said it expects Figma's revenue to grow 36% in fiscal 2026 and 23% in fiscal 2027. The firm values the company at 8 times estimated calendar 2027 enterprise value-to-sales, citing what it views as a premium growth profile despite expected near-term margin pressure from AI investments.

The analysts wrote that key risks to their outlook include slower-than-expected adoption, increased competitive pressure and weaker monetization of AI offerings.

In Brief

Posted:

11:37 AM PDT · July 7, 2026

Image Credits:Figma Figma is trying to become more than a design platform by adding more AI and bringing the coding and prototyping layer closer to its canvas. Toward that end, it has acquired the team behind the vibe-coding and AI agent platform Bud (formerly Orchids).

“Figma is one of, if not the, defining product companies of our time to capitalize on this. It’s where ideas start, iterate, and come to life, and a natural home for this exciting new era of work,” Bud’s CEO Kevin Lu posted on X.

The Y Combinator-backed startup began as a vibe-coding platform letting users spin up apps for mobile, web, Slack, browser, and more. It later rebranded as Bud, an agent platform that can access various services, browse the web, and write code to automate tasks.

Under the deal, the startup will shut down both Bud and Orchids by July 18, requiring users to migrate their projects by then.

Earlier this year, citing a security researcher, the BBC reported that apps created on Orchids were susceptible to cyberattacks.

Figma didn’t specify how it aims to use this team, but recent product launches hint that the public company wants to give teams more tools for building and prototyping apps, not just ideating over static concepts. Last year, it released Figma Make for creating web apps. This year, it integrated with tools like Codex and Claude Code, and rolled out its own agents.

Topics

Subscribe for the industry’s biggest tech news

Latest in Apps

HomeStock IdeasLong IdeasTech 

SummaryFigma is evolving from a design tool to a comprehensive AI-driven product-creation platform, positioning itself beyond traditional design software.AI integration is a double-edged sword: while it threatens seat-based models, Figma's platform-centric approach and AI credits could drive new monetization and user expansion.Q1 2026 results show 46% revenue growth, 139% net dollar retention, and 27% free cash flow margin, supporting a 5.7x forward EV/revenue valuation.With early AI monetization, strong customer expansion, and a misunderstood platform story, FIG offers attractive risk/reward and potential for significant re-rating. Getty Images

Investment Thesis To me, Figma (FIG) is being looked at too narrowly. The market is still mostly treating it like a design-software company, but I do not think that is the full story anymore. Figma started as a

70 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

© metamorworks / Shutterstock.com

Few stocks have fallen as far, as fast, as Figma (NYSE:FIG). After a blockbuster debut, the design software platform has retraced almost everything. The question now is whether the selloff has gone too far. Our model says yes.

Our 24/7 Wall St. price target for Figma is $36.78 over the next 12 months, implying meaningful upside from current levels. The recommendation is buy, with medium confidence. The setup combines a battered share price, 46.1% revenue growth, and a sentiment composite that has turned constructive despite rough headlines.

24/7 Wall St. Price Target Summary Metric Value Current Price $17.63 24/7 Wall St. Price Target $36.78 Upside 108.68% Recommendation BUY Confidence Level 62% From $143 IPO Pop to $18: How We Got Here Figma is down 50.12% year to date and 83.86% from its post-IPO peak, with the stock sliding another 17.92% over the past month. Shares sit near the $16.60 52-week low and roughly $142.92 below the high. A June 14 Benzinga piece framed the move as driven by AI disruption fears.

Q1 told a different story: revenue grew 46% year over year to $303.78 million, paid subscribers expanded, and management guided positively. A $226.56 million GAAP net loss from stock-based compensation kept bears engaged.

Insider selling from CEO Dylan Field, the CFO, and the CTO totaling roughly $14.5 million were disclosed under pre-arranged Rule 10b5-1 plans, softening the signal while leaving sentiment intact.

The Case for $50+ Bulls have a real argument. Figma owns a category. Designers, product managers, and engineers collaborate on it daily, and the platform has emerged as core infrastructure inside enterprises.

JPMorgan, Royal Bank of Canada, and Piper Sandler have flagged a significant rebound driven by Figma’s essential role in design, a strong cash position, and the potential to convert AI from threat to tailwind via generative design tooling. Analysts expect Figma to achieve profitability in 2026. If revenue compounds north of 40% and operating leverage shows up, the stock revisits the $50 to $60 zone within our 12-month window.

The Risks Worth Watching The bear case starts with AI. If foundation-model providers commoditize design generation, Figma’s pricing power erodes. The TTM operating margin of -41.2% and EPS of -4.07 leave little room for a multiple rerating if growth slows. Stifel and Piper Sandler have trimmed targets, citing AI uncertainty and valuation concerns, and Findell Capital Management has pushed for governance changes.

RBC’s Rishi Jaluria holds a Hold rating with a $28 target, a reasonable downside scenario if growth decelerates toward 30%. Bulls counter that Figma’s losses reflect deliberate reinvestment with intact unit economics, and gross margins remain best-in-class.

Figma Price Prediction 2026-2030 The 24/7 Wall St. price target is $36.78, the recommendation is buy, and confidence is medium. The factor tipping the scale is the gap between a fundamentally healthy growth business and a stock price that already discounts severe AI disruption.

I’d be a buyer if Q2 delivers another 40%+ revenue quarter with progress toward GAAP profitability. I’d stay on the sidelines if growth slips below 30% or insider selling broadens beyond pre-arranged plans.

Here is where our model projects Figma could trade in the coming years, assuming current growth trajectories and market conditions hold.

Year 24/7 Wall St. Price Target 2026 $36.78 2027 $44 2028 $52 2029 $60 2030 $68 These projections assume Figma continues executing on its current strategy and converts AI into a product tailwind rather than a competitive threat. Significant upside or downside could result from a faster path to profitability or accelerated commoditization of design software.