TLDR
- Figma (FIG) shares surged approximately 14% Thursday, reaching $30.89, buoyed by a widespread rally in SaaS equities.
- Salesforce’s exceptional Q2 results, which exceeded expectations by 80%, sparked the rally and alleviated concerns about AI’s impact on conventional cloud software.
- Figma’s Q2 performance bolstered the rally: revenues reached $370.1 million, a 48% year-over-year increase, marking its third consecutive quarter of growth acceleration.
- The company increased its fiscal 2026 revenue outlook by $40 million, now projecting $1.463 billion to $1.467 billion.
- More than half of paying clients with over $10,000 in ARR are actively using the new Figma AI agent each week.
Shares of Figma (NYSE: FIG) experienced a substantial rally Thursday, advancing roughly 14% to approximately $30.89, as enterprise software equities benefited from enthusiasm following Salesforce’s impressive quarterly performance.
Salesforce delivered exceptional Q2 results with net sales reaching $11.35 billion and adjusted earnings per share of $5.90, surpassing projections by 80% while boosting full-year guidance. This performance conveyed a powerful message: artificial intelligence isn’t destroying the SaaS industry—it may be enhancing it.
This sentiment reversal boosted comparable stocks throughout the sector, with Figma experiencing significant buying pressure as capital flowed back into software equities.
Figma’s Quarterly Performance Supported the Rally
While Figma’s Q2 results were released on August 5, market participants continued processing the strong performance throughout Thursday’s session.
Quarterly revenue totaled $370.1 million, representing a 48% year-over-year expansion. This achievement represented the third consecutive quarter of accelerating revenue growth—a rare and noteworthy trend.
The company posted earnings of $0.08 per share, significantly exceeding analyst expectations of a $0.22 loss. This $0.30 outperformance represented a substantial positive surprise.
Leadership also elevated fiscal 2026 revenue projections by $40 million, establishing a new target range of $1.463 billion to $1.467 billion.
Artificial Intelligence Integration Gains Momentum
During the Q2 earnings discussion, 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, over 50% of paying customers contributing more than $10,000 in annual recurring revenue were actively engaging with the Figma AI agent weekly.
This level of customer adoption within the existing user base addressed market concerns about AI potentially disrupting design and software development tools.
Trading volume Thursday registered approximately 71% below Figma’s typical daily average, indicating the price movement stemmed primarily from sentiment shifts rather than heavy institutional accumulation.
Wall Street sentiment on FIG remains divided. Five analysts recommend Buy, eight suggest Hold, and one maintains a Sell rating. The consensus price target stands at $32.56.
Bank of America raised its price objective to $33.00 with a Buy recommendation on August 19. Wells Fargo reduced its target from $42.00 to $36.00 in June while maintaining an Overweight stance.
FIG was trading at $30.89 at publication time Thursday.
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