Key Stats for Figma Stock
- YTD Price change for Figma stock: -44%
- $FIG Stock Price as of Jul. 10: $21
- 52-Week High: $143
- $FIG Stock Price Target: $31
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What Happened?
Figma (FIG) stock has had a rough first half of 2026. Shares fell 44% even though the company’s core business continued to grow rapidly.
The company’s Q1 2026 earnings, released in mid-May, looked strong. Revenue jumped 46% year over year to $333.4 million.
Non-GAAP Earnings per share came in at $0.10, well above the $0.06 expected by analysts.
Net dollar retention hit 139%, the best in two years. Management even raised its full-year revenue guidance by $55 million.
Figma stock popped 10% after hours on that news. But the good mood didn’t last. In June alone, Figma stock lost more than 20%.
The reason wasn’t the numbers. It was fear. Investors got spooked by AI-native design competitors, especially Anthropic’s Claude Design.
The worry is that AI tools could make traditional design software like Figma less necessary over time.
Adding to the pressure, activist investor Findell Capital called the stock “significantly undervalued” in late May and pushed management to reconsider its relationship with Anthropic.
A securities law investigation announced back in March didn’t help either.
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What the Market Is Telling Us About Figma Stock
Right now, the market is trading on fear of the future, not on what’s actually happening at Figma today.
Figma has been trying to answer AI concerns head-on.
In mid-March, the company began charging for AI credits, and early results look encouraging. More than 75% of enterprise users who hit their credit limits chose to keep paying for more.
Teams that buy AI add-ons spend more than three times as much per year as teams that don’t.
CEO Dylan Field has argued that Figma’s multiplayer canvas and deep understanding of how design teams work give it an edge that AI-only tools can’t easily copy.
Figma stock still isn’t cheap. At 47 times free cash flow and 62 times forward earnings, it trades at a premium even after the sell-off.
But that premium may be justified for a company growing revenue 46% a year while turning more profitable. Figma also holds $1.6 billion in cash and serves nearly 690,000 paid customers, many of whom continue to expand their use of the platform.
The bigger question is whether AI will eventually replace what Figma does, or simply become another feature inside it.
Q2 earnings, expected in August, should give investors a clearer read on whether the AI threat to Figma stock is real or overblown.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
