Why Figma Stock Climbed 13% in August
Yahoo Finance ·
Shares of Figma ( FIG -5.40% ) were moving higher last month, benefiting from a broad recovery in software stocks as fears of AI disruption faded and as the cloud design software delivered another strong earnings report, though the stock fell immediately after it. According to data from S&P Global Market Intelligence , the stock finished August up 13%. As you can see from the chart below, the stock was volatile over the course of the month, falling on its earnings report early in the month, but jumped on Aug. 13 and later in the month on Aug. 27 when Salesforce delivered a strong earnings report. After Figma jumped on Aug. 4 in sympathy with Palantir , which surged following its earnings report, Figma tumbled on Aug. 6 on its own quarterly report, despite better-than-expected results . Second-quarter revenue jumped 48%, marking the third straight quarter of revenue acceleration, and the company credited new AI products like Code Layers for the strong growth. Revenue of $370.1 million beat the consensus at $351.5 million.
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