Why Is FIGMA INC A (FIG) Stock Up Today?

Figma Inc A (FIG) rose 8.62% to $22.94 on July 24 driven by a Citigroup upgrade and broader market optimism in the technology sector. The stock has moved up from $22.64 over the last eight sessions amid a mix of investor speculation and positive sector momentum.

What Happened

The stock’s sharp move came after Citigroup maintained a Buy rating on Figma while lowering its price target to $35. This followed unusual call options activity, with a notable $143K sweep of July 24 $28 calls at $0.536. The Nasdaq 100 also reached a new high of 29,000, contributing to a broader rally in tech stocks. Figma’s earnings are scheduled for August 5, adding to near-term expectations. Meanwhile, external analysis has highlighted Figma’s consistent revenue growth, with the company reporting 41.4% year-to-date revenue growth despite being unprofitable with a net margin of -123.8%.

What The Data Shows

Figma’s recent price action has been relatively modest compared to its 52-week range of $16.60 to $142.92. The stock has gained 1.3% over the last eight sessions. Over the past 90 days, insiders have sold a total of $18.1 million in shares, with no insider purchases recorded. Retail chatter on Reddit and X has been minimal, with only one post in the last seven days.

What To Watch

Investors should keep an eye on Figma’s August 5 earnings report, which will be the first major data point after the recent options sweep and analyst activity. Coverage breadth and any follow-up from Citigroup or other analysts will also be key to monitoring the stock’s momentum.