NEW YORK, Jan 14, 2026, 05:56 (ET) — Premarket
- Figma shares dipped 0.1% in pre-market trading, following a steep 7.8% decline in the previous session
- Goldman Sachs initiated coverage with a Neutral rating and set a $40 price target
- Traders await the upcoming earnings report linked to new share unlocks under the extended lock-up
Figma (FIG.N) shares slipped 0.1% to $33.52 in early trading Wednesday, after dropping 7.8% to $33.56 on Tuesday. Volume surged to 14.27 million shares, nearly twice its typical daily average. The stock remains close to a 52-week low of $32.83. (Investing)
The swing is crucial since FIG remains in price discovery post its 2025 IPO, facing fresh coverage and emerging “AI” spending themes amid a shareholder base that’s still in flux. In this environment, even minor headlines can pack more punch than they would for a more established software company.
Goldman Sachs initiated coverage on Figma with a Neutral rating and set a $40 price target, according to TheFly. The firm described AI adoption as a “positive tailwind” for software over the coming decade but is holding off on a more bullish stance until Figma’s next product cycle unfolds. (TipRanks)
On Monday, Figma introduced a new admin tool allowing organization and enterprise customers to view and download historical “AI credits” usage, starting Nov. 26, 2025. The company described it as a resource for admins to better plan future expenses related to AI features. (Figma)
Figma reported a 38% jump in third-quarter revenue to $274.2 million in its latest update, highlighting robust adoption of its newer AI offerings. CEO Dylan Field described AI as “redefining how software gets built,” and CFO Praveer Melwani noted the company still has capacity to invest heavily for long-term growth.
Share supply has also played a role in this trade. Figma had earlier announced that the lock-up and market standoff agreements linked to its IPO would end when trading begins on Nov. 7, 2025, though an extended lock-up agreement still applies.
A filing reveals that roughly 54.1% of Figma’s outstanding Class A shares remain under extended lock-up, with staggered releases tied to earnings dates. The next big unlock is scheduled after the company reports results for the year ending Dec. 31, 2025, allowing up to 20% more of those shares to become available starting the second trading day following the announcement, the filing stated.
The schedule works both ways. If the market turns shaky or growth prospects cloud, the looming flow of new stock can weigh on the shares—even without a major seller dumping shares all at once.
Traders will be watching closely in the next session and throughout the week to see if FIG can maintain its recent lows amid lighter volume. Attention will also turn to whether more banks issue first-time ratings. Updates on paid AI features—their pricing and metering—will remain a key focus.
The next major event to watch is Figma’s update for the year ending Dec. 31, 2025. This report will also determine when the next batch of shares becomes eligible for sale under the extended lock-up.
