Figma shares climb above $27.80 neckline to $30.62

Figma shares climbed to $30.62 on Thursday, the highest level since March 5, after breaking above a $27.80 double-bottom neckline and moving past the 50-day moving average.

The company reported second-quarter revenue of $370 million, a 48% increase from a year earlier, topping analyst forecasts and exceeding prior guidance. Gross profit rose during the quarter and the number of customers paying at least $10,000 annually increased to 15,964. Figma reported that about 80% of its paid customers use the company’s AI credits on a weekly basis.

Figma’s stock fell sharply after its public debut last year, dropping from an August record high of $142.70 to a low of $16.80 amid broader weakness in software shares. Technical traders identified a large double-bottom pattern with a low at $16.80 and a neckline at $27.80; the stock’s move above the neckline is a technical signal some traders watch.

On technical indicators, FIG has moved above its 50-day moving average and the Relative Strength Index was around 67, below the commonly cited overbought threshold of 70. Traders note the next notable resistance near $40, the stock’s high in December.

Analysts adjusted price targets after the results. Bank of America analyst Tal Liani raised his target from $30 to $33, citing potential to monetize AI features and the platform’s customer retention. Citigroup maintains a buy rating with a $37 target, and Wells Fargo projects a $36 target. Street estimates project quarterly revenue near $375 million, roughly 37% year-over-year, and fourth-quarter revenue around $388 million, a 27% increase that would lift full-year revenue above $1.47 billion.

Trading gains in Figma accelerated after strong sessions for several large software peers, a pattern that supported broader sector buying. Institutional and retail interest in FIG increased as the company reported revenue and customer metrics above earlier expectations.