Figma stock forms double-bottom at $16.80; eyes $27.80

Figma’s shares formed a double-bottom at $16.80 in April and again in June and have climbed to $23.65. The stock moved above its 50‑day exponential moving average and the Relative Strength Index recovered to 61 from a year-to-date low of 17.83.

Traders identify the June 1 high at $27.80 as the pattern’s neckline. A sustained move above $27.80 would put a higher resistance level near $31.25 into play, based on Murrey Math lines.

In the first quarter Figma reported revenue of $333.4 million, a 46% increase year over year and above prior guidance. Management guided second-quarter revenue to a range of $348 million to $350 million, implying roughly 40% year-over-year growth, and set full-year revenue guidance of $1.422 billion to $1.428 billion.

Paid-customer metrics rose: customers paying more than $10,000 increased to 15,218 from 11,107 a year earlier, and customers paying $100,000 or more rose to 1,525 from 1,031. The company recorded an order from a hyperscaler that added 35,000 paid seats during the quarter. In March Figma implemented AI credit limits for customers and reported no meaningful churn related to that change.

Analysts maintain price targets above the current share price. Bank of America has a $30 target and Wells Fargo’s Michael Turrin a $36 target; Piper Sandler, Citigroup and JPMorgan have targets north of $30. Figma reported an operating loss of $137 million in the first quarter and a forward price-to-sales ratio near 7.7.

Figma’s shares declined earlier this year amid broad selling across software stocks that affected peers including Atlassian, Adobe, Autodesk and ServiceNow. Investors and traders will focus on the upcoming earnings report for updated growth, margin and customer metrics, and technical traders will monitor whether the stock can clear and hold above the $27.80 neckline.