u/jcool9

Bank of America raised its price target on Figma from $30 to $33 while maintaining its Buy rating.
According to The Fly, BofA cited broader software multiple expansion and easing concerns around AI disruption as factors behind the higher target.
BofA reportedly did not change its underlying estimates or fundamental view on Figma, so this appears to be primarily a valuation/multiple adjustment rather than a change to its financial forecasts.
This follows the recent post-earnings analyst updates after Figma reported 48% YoY revenue growth and raised its full-year revenue guidance.

Bank of America raised its price target on Figma from $30 to $33 while maintaining its Buy rating.
According to The Fly, BofA cited broader software multiple expansion and easing concerns around AI disruption as factors behind the higher target.
BofA reportedly did not change its underlying estimates or fundamental view on Figma, so this appears to be primarily a valuation/multiple adjustment rather than a change to its financial forecasts.
This follows the recent post-earnings analyst updates after Figma reported 48% YoY revenue growth and raised its full-year revenue guidance.
Source (The Fly via TipRanks):
https://www.tipranks.com/news/the-fly/figma-price-target-raised-to-33-from-30-at-bofa-thefly-news

Citi maintained its Buy rating on Figma and raised its price target from $35 to $37 following the company’s Q2 earnings report.
Figma reported:
• Revenue of $370.1M, +48% YoY
• Net Dollar Retention of 136%
• $100K+ ARR customers up 46% YoY
• Free cash flow of $53.2M
• More than 80% of $10K+ ARR customers consuming AI credits weekly
• Full-year revenue guidance raised to $1.463B–$1.467B
The stock sold off heavily following the report, with investors appearing to focus on increased AI infrastructure/inference costs, lower free-cash-flow margins, and the Q3 outlook implying approximately 36% YoY revenue growth.
Figma also had its final extended lockup release Friday, making approximately 77.7M previously restricted shares eligible to trade.
Despite those concerns, Citi’s post-earnings response was to maintain its Buy rating and increase its target to $37.

Citi maintained its Buy rating on Figma and raised its price target from $35 to $37 following the company’s Q2 earnings report.
Figma reported:
• Revenue of $370.1M, +48% YoY
• Net Dollar Retention of 136%
• $100K+ ARR customers up 46% YoY
• Free cash flow of $53.2M
• More than 80% of $10K+ ARR customers consuming AI credits weekly
• Full-year revenue guidance raised to $1.463B–$1.467B
The stock sold off heavily following the report, with investors appearing to focus on increased AI infrastructure/inference costs, lower free-cash-flow margins, and the Q3 outlook implying approximately 36% YoY revenue growth.
Figma also had its final extended lockup release Friday, making approximately 77.7M previously restricted shares eligible to trade.
Despite those concerns, Citi’s post-earnings response was to maintain its Buy rating and increase its target to $37.

Revenue: $370.1M, up 48% YoY
• Previous Q2 guidance: $348M–$350M
• Net Dollar Retention: 136%
• Free cash flow: $53.2M
• Cash and marketable securities: ~$1.7B
• $100K+ ARR customers: 1,635, up 46% YoY
• $10K+ ARR customers: 15,964, up 34% YoY
Figma also raised its full-year 2026 revenue guidance to $1.463B–$1.467B, representing roughly 39% YoY growth.
For Q3, management guided to $373M–$375M in revenue, or approximately 36% YoY growth.

On AI adoption, Figma said more than 80% of customers with $10K+ ARR were consuming AI credits weekly, and more than 50% of $10K+ ARR customers were using the Figma agent weekly as of July 31.
Despite the revenue beat and raised full-year guidance, FIG dropped sharply in after-hours trading following the report.
Official earnings release:
https://investor.figma.com/files/doc_financials/2026/q2/Figma-Q2-26-Press-Release.pdf

Figma just held its Config 2026 keynote today.

Major announcements:
🚀 Code Layers
Clone repositories directly into Figma
Work with actual code on the design canvas
Generate and modify code with AI
Sync changes back to source code
This seems like a direct attempt to eliminate the traditional designer → developer handoff.
🎬 Figma Motion
Native animations, transitions, and 3D transforms
AI-generated animations from prompts
Timeline editing built into Figma
No more jumping between multiple tools just to create motion graphics.
🎨 Shaders
AI-generated visual effects
Blur, pixelation, dithering, gradients, and other WebGPU-powered effects
Built directly into the canvas
🤖 Agent Skills
Create reusable AI workflows
Teams can train Figma’s AI on company-specific processes
Connect external tools, files, web search, and more context
This feels like Figma building an AI workflow platform rather than just an AI feature.
🛠️** Generative Plugin**s
Build plugins with prompts instead of code
Create reusable tools for your team
No developer setup required

A Citi analyst initiated coverage on Figma today with a Buy rating and a $36 price target, implying roughly 80% upside from current levels.

The market has largely treated AI as a threat to Figma, but Citi argues that as AI lowers the barrier to creating designs and prototypes, it actually increases the need for structured workflows, collaboration, governance, and version control. Their view is that Figma becomes the "system of record" for AI driven design workflows.

Some highlights

-FIG is down over 50% TYD despite accelerating growth

-Q1 revenue grew 46% YoY and guidance was raised

Article

Citi analyst Tyler Radke initiated coverage on Figma today with a Buy rating and a $36 price target, implying roughly 80% upside from current levels.

The interesting part isn’t the target — it’s the thesis.
The market has largely treated AI as a threat to Figma, but Citi argues that as AI lowers the barrier to creating designs and prototypes, it actually increases the need for structured workflows, collaboration, governance, and version control. Their view is that Figma becomes the “system of record” for AI-driven design workflows.

Some highlights:
-FIG is down over 50% YTD despite accelerating growth.
-Q1 revenue grew 46% YoY and guidance was raised.
-Citi estimates Figma has only ~4% share of its addressable market.
-They believe AI expands the TAM and creates new users rather than replacing Figma.

I just discovered and entered a position in Figma at 2000 shares ($24.70 avg)

WHY I ENTERED

The recent earnings of this company were very strong across the board , and in normal cases people would be buying this company up with their kind of growth. I also find it very intriguing that the company is trading far below the valuation that Adobe literally tried to purchase them at. I believe one could argue that the recent earnings showed this company can actually benefit from AI.

WHAT IM EXPECTING/HOPING FOR

Right now , this company is in a “prove it again” mode in my opinion. The entire market sentiment is “AI ruins SaaS companies” , but I’m expecting this sentiment to shift at some point and companies like Figma will be seen as a major buy at current levels. When am I expecting this? I don’t have a crystal ball for that, but I could argue we are slowly seeing signs of this sentiment slowly shifting with BoA recent target price raise of ServiceNow(SaaS company traded in the negative “ai ruins you” sentiment) . This is not the only case of sighs on sentiment shift, but I think it’s due to happen, and when it does, it will happen fast for major rips upwards.

I am expecting Figma to bounce back and forth, but ideally if they hold some gains from their recent earnings report in the next couple weeks, then I think that’s a strong sign. If they can produce another positive earnings report next quarter , then I see solid returns for this stock.

That being said, it seems a lot of people got fucked early on with this stock and now just hate it , but do we have any fresh minds/ new buyers here?