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

Figma Inc A (FIG) surged 9.05 percent to $25.90 in afternoon trading on Thursday driven by strong earnings performance and a price target upgrade from Citigroup. The stock reached an intraday high of $25.91 and traded at $25.77 at the close of the session. The move followed the release of Q2 2026 earnings which showed 48 percent revenue growth to $370.1 million driven by AI credit adoption.

What Happened

Figma reported Q2 2026 earnings with a 48 percent year-over-year revenue increase to $370.1 million driven by AI credit adoption. The stock opened at $23.81 and climbed steadily through the day reaching a session high at 3:05 PM ET. Citigroup raised its price target for FIG to $37 in the wake of the earnings report. The stock has been volatile recently with a 52-week range of $16.60 to $91.00 and a trailing twelve-month revenue increase of 43.4 percent. The company remains unprofitable with a net margin of -123.1 percent and an EPS TTM of -3.10.

What The Data Shows

The stock traded at 10.9 million shares by the end of the session which is 0.5 times the 3-month daily average. The price trend over the last 8 sessions showed a 10.4 percent decline from $26.80 to $24.02. Unusual options activity included one notable print with a put premium of $195K. Recent insider transactions show 19 sells totaling $42.6 million in the last 90 days with the most recent filing on August 12. Congressional trades include one buy by Donald J. Trump in February 2026. Retail traders on social platforms have discussed the stock with some calling it overvalued and others noting the price spike.

What To Watch

The stock is currently trading at a market cap of $12.8 billion. Investors should monitor the company's next earnings release and any further analyst coverage. The Citigroup price target of $37 and the recent insider selling activity may also influence future price action.