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

Why FIG stock is up today

Figma Inc A (FIG) rose 7.54% to $25.05 in early trading on Friday, driven by strong second-quarter earnings and positive analyst sentiment. The stock opened lower due to a small gap down but quickly reversed course, reaching a session high of $25.35 before settling near that level. The move followed a report showing the company’s Q2 2026 revenue increased 48% year-over-year to $370 million, marking the third consecutive quarter of accelerated growth.

What Happened

Figma reported its second-quarter revenue of $370 million, a 48% increase from the prior year, and highlighted its first full quarter of monetizing AI credit usage. The company also raised its full-year guidance, signaling confidence in its growth trajectory. Citigroup recently maintained its Buy rating on FIG and raised its price target to $37. The earnings update and analyst action contributed to the stock’s sharp intraday reversal.

Retail traders on Reddit have discussed the earnings report and the price target increase, though opinions remain mixed. Some posts describe the stock as overvalued, while others note the significant revenue growth. No unusual options activity was reported, but a notable $83K call premium was observed.

What The Data Shows

The stock opened at $23.13, a 0.7% gap down from the previous close of $23.29. It then climbed to a high of $25.35 at 10:45 AM ET, with volume reaching 9.3 million shares, 0.5 times the 3-month average. The price trend over the last 8 sessions had been negative, falling 1.7% from $23.76 to $23.35. Figma’s fundamentals remain unprofitable, with a TTM net margin of -123.1% and an EPS of -3.10, but revenue growth of 43.4% TTM reflects ongoing expansion.

What To Watch

Figma is not scheduled to report earnings in the near term. Investors should monitor the breadth of coverage and sentiment shifts as the stock continues to trade near its 52-week high of $91.00.