TLDR
- Figma (FIG) stock jumped around 14% on Thursday, trading near $30.89, pulled higher by a broad SaaS rally.
- The rally was triggered by Salesforce’s blowout Q2 earnings, which beat estimates by 80% and eased fears that AI would hurt traditional cloud software.
- Figma’s own Q2 results also supported the move: revenue hit $370.1 million, up 48% year over year, its third straight quarter of accelerating growth.
- Management raised full-year 2026 revenue guidance by $40 million, now targeting $1.463 billion to $1.467 billion.
- Over 50% of paid customers spending more than $10,000 in ARR are using the new Figma AI agent weekly.
Figma (NYSE: FIG) stock climbed sharply on Thursday, rising around 14% to trade near $30.89, as a wave of buying swept through enterprise software stocks following Salesforce’s massive earnings beat.
Salesforce reported record Q2 net sales of $11.35 billion and adjusted EPS of $5.90, beating estimates by 80% and raising its full-year outlook. That sent a strong signal to the market: AI is not killing SaaS, it may actually be helping it.
That shift in sentiment lifted peer stocks across the sector, with Figma catching a strong bid as investors rotated back into software names.
Figma’s Own Numbers Did the Heavy Lifting
Figma’s Q2 earnings, reported on August 5, were already in the rearview mirror, but investors continued to digest the results on Thursday.
Revenue came in at $370.1 million, up 48% year over year. That marked the third straight quarter of accelerating top-line growth, which is not something you see every day.
Earnings per share came in at $0.08, well ahead of the consensus estimate of a loss of $0.22. That is a $0.30 beat, which is hard to ignore.
Management also raised full-year 2026 revenue guidance by $40 million, now pointing to a range of $1.463 billion to $1.467 billion.
AI Adoption Is Picking Up
On the Q2 earnings call, CEO Dylan Field made it clear that Figma sees AI as a growth driver, not a headwind.
“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,” Field said.
As of July 31, more than 50% of paid customers generating over $10,000 in annual recurring revenue were using the Figma AI agent on a weekly basis.
That kind of adoption rate inside an existing customer base is exactly what the market wanted to hear after months of worrying about AI disrupting design and software tools.
Volume on Thursday was about 71% below Figma’s average daily volume, which suggests the move was driven more by sentiment than a flood of new buyers.
Analyst opinion on FIG remains split. Five analysts rate it Buy, eight say Hold, and one has a Sell rating. The average price target sits at $32.56.
Bank of America lifted its target to $33.00 with a Buy rating on August 19. Wells Fargo cut its target from $42.00 to $36.00 back in June but kept an Overweight rating.
FIG last traded at $30.89 at the time of publication on Thursday.
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