Figma shares rose approximately 14% Thursday to $30.89 as a broad rally in SaaS (software delivered over the internet) equities followed Salesforce’s exceptional Q2 results. Salesforce reported $11.35 billion in net sales and adjusted earnings per share of $5.90, exceeding projections by 80% and raising its full-year guidance, helping ease concerns that artificial intelligence could undermine conventional cloud software. Figma’s own Q2 results, released August 5, reinforced the move: revenue climbed 48% year over year to $370.1 million, marking the company’s third consecutive quarter of accelerating growth, while earnings of $0.08 per share beat expectations for a $0.22 loss. Figma raised its fiscal 2026 revenue outlook by $40 million to $1.463 billion-$1.467 billion. More than 50% of paying customers generating over $10,000 in annual recurring revenue were using the Figma AI agent weekly as of the end of July. Trading volume was approximately 71% below Figma’s typical daily average, suggesting the advance was driven mainly by a shift in sentiment rather than heavy institutional accumulation. Wall Street views remain divided, with five Buy ratings, eight Holds and one Sell; the consensus price target is $32.56. Bank of America raised its target to $33.00 with a Buy recommendation on August 19, while Wells Fargo cut its target from $42.00 to $36.00 in June and kept an Overweight rating.