Figma (NYSE:FIG) Shares Gap Up After Strong Earnings

Figma, Inc. (NYSE:FIG)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $24.19, but opened at $26.00. Figma shares last traded at $24.78, with a volume of 26,216,348 shares changing hands.

The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.28. The firm had revenue of $303.78 million during the quarter. Figma had a negative net margin of 121.87% and a negative return on equity of 97.03%. The firm’s quarterly revenue was up 40.1% on a year-over-year basis.

Key Headlines Impacting Figma

Here are the key news stories impacting Figma this week:

• Positive Sentiment: Q4 beat and raised outlook — Figma reported $303.8M in revenue (+40% YoY), beat EPS, and issued FY26 revenue guidance above Street estimates, which drove after‑hours buying and a strong short‑term rally. Figma shares climb on earnings beat, but analysts note that AI risk remains
• Positive Sentiment: AI partnership & monetization add upside — Management highlighted an Anthropic “Code to Canvas” integration and will begin enforcing AI credit limits / pay‑as‑you‑go pricing in March, positioning consumption revenue to lift ARPU as AI usage grows. Figma’s Anthropic Integration Could Flip the SaaSpocalypse Script
• Positive Sentiment: Strong retention and non‑designer adoption — Net dollar retention ~136%, growth in Figma Make (many users are non‑designers) and rising $100k+ customers point to stickiness and expanding TAM. Figma: Strong Results, Topping Expectations
• Positive Sentiment: Analyst / options flow supports momentum — Piper Sandler reaffirmed overweight with a $35 PT and unusual call buying showed speculative / institutional interest ahead of/after the print. Piper Sandler Reiterates Overweight Rating on Figma Inc (FIG)
• Neutral Sentiment: Management framing reduces AI scare but execution matters — Execs emphasized AI as a complement to employees, which calmed some fears but the market will watch adoption and monetization cadence. Figma stock is on the rise again. The software firm just gave a refreshingly human response to a question about AI
• Neutral Sentiment: Volatility & valuation disconnect — Despite strong results, FIG is still well below its IPO/peak levels and remains volatile; some analysts call the current entry point questionable given the market value vs. execution risk. Figma: Good Company, Good Q4, Questionable Entry Point
• Negative Sentiment: Margins, dilution and heavy spend remain worries — Several writeups flag lumpy operating margins, continued equity dilution and ongoing high R&D / S&M spend that could keep profitability choppy as growth is defended. Figma Suffers AI SaaS Success – Lumpy Margins And Equity Dilution Continue
• Negative Sentiment: Bear case / stock is still a risky entry — Commentary argues FIG is a risky investment at current multiples given macro sensitivity, competitive threats and the potential for AI to change costs/users over time. Figma: Risky Investment Proposition

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays upgraded Figma to a “neutral” rating in a report on Thursday, January 8th. Morgan Stanley set a $44.00 price objective on shares of Figma in a research note on Thursday. Royal Bank Of Canada cut their target price on shares of Figma from $38.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Thursday. Wall Street Zen upgraded shares of Figma from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Figma from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Figma has a consensus rating of “Hold” and a consensus target price of $43.25.

Insider Buying and Selling

In other news, General Counsel Brendan Mulligan sold 5,227 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $25.00, for a total transaction of $130,675.00. Following the sale, the general counsel owned 850,489 shares of the company’s stock, valued at approximately $21,262,225. This trade represents a 0.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Praveer Melwani sold 16,247 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $24.86, for a total value of $403,900.42. Following the sale, the chief financial officer owned 1,550,298 shares of the company’s stock, valued at approximately $38,540,408.28. The trade was a 1.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,781,925 shares of company stock valued at $59,260,303 over the last 90 days. 45.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Figma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC purchased a new position in Figma during the 3rd quarter worth approximately $3,412,000. VERITY Wealth Advisors acquired a new stake in shares of Figma in the third quarter valued at approximately $519,000. Tripletail Wealth Management LLC purchased a new position in shares of Figma during the third quarter worth approximately $53,000. Renaissance Capital LLC acquired a new position in shares of Figma in the 3rd quarter valued at $2,439,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in Figma in the 3rd quarter valued at $39,000.

Figma Trading Up 1.5%

The stock has a market cap of $11.58 billion and a price-to-earnings ratio of -8.42. The stock’s 50 day moving average is $30.93 and its two-hundred day moving average is $46.66.

Figma Company Profile

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.