Key Highlights
- Figma (FIG) shares surged approximately 14% Thursday, reaching around $30.89, driven by a widespread rally in SaaS stocks.
- Salesforce’s exceptional Q2 financial results, which exceeded expectations by 80%, ignited the sector-wide rally and alleviated concerns about AI disrupting traditional cloud software companies.
- Figma reported strong Q2 performance: revenue reached $370.1 million, representing 48% year-over-year growth and marking the third consecutive quarter of growth acceleration.
- The company increased its fiscal 2026 full-year revenue forecast by $40 million, now projecting between $1.463 billion and $1.467 billion.
- More than half of paying customers with annual recurring revenue exceeding $10,000 are actively using Figma’s new AI agent on a weekly basis.
Shares of Figma (NYSE: FIG) experienced a substantial rally Thursday, advancing roughly 14% to approximately $30.89, as enterprise software stocks benefited from renewed investor enthusiasm following Salesforce’s impressive quarterly results.
Salesforce delivered exceptional Q2 performance with net sales hitting a record $11.35 billion and adjusted earnings per share of $5.90, crushing analyst expectations by 80% while boosting its annual forecast. This performance sent a clear message to Wall Street: artificial intelligence isn’t destroying the SaaS industry—it might actually be fueling growth.
The positive sentiment rippled through the entire sector, with Figma benefiting from the renewed investor interest in enterprise software companies.
Strong Q2 Results Underpinned Thursday’s Rally
While Figma’s second-quarter earnings were released on August 5, investors continued to process the impressive results during Thursday’s trading session.
The company posted revenue of $370.1 million, representing a robust 48% increase compared to the same period last year. Notably, this was the third consecutive quarter showing accelerating revenue growth—a rare achievement in today’s market.
The company delivered earnings per share of $0.08, significantly surpassing the consensus forecast of a $0.22 loss. This $0.30 earnings surprise caught Wall Street’s attention.
Company leadership also boosted its full-year 2026 revenue projection by $40 million, establishing a new target range of $1.463 billion to $1.467 billion.
Artificial Intelligence Driving Customer Engagement
During the Q2 earnings conference call, CEO Dylan Field emphasized that Figma views artificial intelligence as a catalyst for expansion rather than a competitive threat.
“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 the end of July, more than half of all paid customers generating over $10,000 in annual recurring revenue were actively engaging with Figma’s AI agent each week.
This level of adoption within the existing customer base provided reassurance to investors who had been concerned about AI potentially disrupting design software platforms.
Trading volume Thursday came in approximately 71% lower than Figma’s typical daily average, indicating the price movement was primarily sentiment-driven rather than the result of massive new position-building.
Wall Street analysts maintain mixed views on FIG stock. Currently, five analysts recommend buying, eight suggest holding, and one advises selling. The consensus price target stands at $32.56.
Bank of America raised its price target to $33.00 with a Buy recommendation on August 19. Wells Fargo reduced its target from $42.00 to $36.00 in June but maintained an Overweight rating.
FIG shares were trading at $30.89 at publication time Thursday.
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