Figma’s Stock Plunges 1.73% as Daily Volume Slumps to 438th Bounces on AI Catalysts and $85 Price Target

Figma (FIG) closed on August 21 with a 1.73% decline, trading at $74.04 per share, while its daily trading volume dropped 67.57% to $200 million, ranking 438th in market activity. The stock reversed two consecutive days of losses amid an upgrade from Piper Sandler, which assigned an “overweight” rating with an $85 price target, implying a 14.8% potential upside. The firm highlighted Figma’s differentiated design platform, global customer base of 450,000, and early-stage opportunities in AI-driven features as key catalysts for growth.

Analysts noted Figma’s strategic position in leveraging artificial intelligence to expand recurring revenue streams, with Piper Sandler projecting $3 billion in annualized revenue by 2030. This forecast hinges on international adoption, AI-powered tool integration, and conversion of free users to paid subscribers. While the stock’s recent volatility contrasts with broader market optimism for AI beneficiaries, the rating underscores confidence in Figma’s long-term business model resilience.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to 2025 yielded a 7.61% total return, with a 1.98% average daily gain. The approach showed a Sharpe ratio of 0.94 but faced a maximum drawdown of -29.16%, reflecting heightened exposure to market downturns.