FIGS (NYSE:FIGS) Shares Gap Up After Analyst Upgrade

FIGS, Inc. (NYSE:FIGS) gapped up prior to trading on Friday after BTIG Research raised their price target on the stock from $20.00 to $22.00. The stock had previously closed at $11.24, but opened at $15.20. BTIG Research currently has a buy rating on the stock. FIGS shares last traded at $15.1540, with a volume of 2,923,517 shares traded.

FIGS has been the topic of a number of other reports. Zacks Research downgraded FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings cut shares of FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Barclays raised their price target on shares of FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Friday. KeyCorp reiterated an “overweight” rating and issued a $20.00 price target (up from $19.00) on shares of FIGS in a research note on Friday. Finally, Morgan Stanley boosted their price objective on shares of FIGS from $8.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, FIGS presently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Key Headlines Impacting FIGS

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: Q2 results beat estimates: FIGS reported earnings of $0.15 per share versus the $0.07 consensus estimate, up from $0.04 a year earlier. Revenue reached $196.6 million, exceeding the $186.2 million estimate and increasing 28.8% year over year. FIGS Releases Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year revenue outlook is above expectations: FIGS issued fiscal 2026 revenue guidance of approximately $757.3 million, above the $729.1 million analyst consensus. The outlook suggests continued demand momentum and supports expectations for further growth.
• Positive Sentiment: BTIG raised its price target and rating: BTIG Research increased its FIGS price target from $20 to $22 and initiated or reaffirmed a “Buy” rating. The target represents substantial potential upside from the referenced $11.18 share price, although analyst targets are not guarantees. Benzinga analyst update
• Neutral Sentiment: Investors should continue monitoring margins: Ahead of the results, analysts noted that tariffs and freight costs could pressure profitability. While the quarter showed strong earnings improvement, these costs remain potential risks to future margins.

Institutional Investors Weigh In On FIGS

Large investors have recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new stake in shares of FIGS during the 4th quarter valued at about $45,000. Quarry LP lifted its stake in shares of FIGS by 1,876.3% in the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after purchasing an additional 7,449 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of FIGS in the second quarter worth approximately $61,000. Walleye Capital LLC purchased a new position in shares of FIGS in the second quarter worth approximately $65,000. Finally, Kemnay Advisory Services Inc. bought a new stake in FIGS during the fourth quarter valued at approximately $69,000. 92.21% of the stock is currently owned by institutional investors.

FIGS Stock Up 35.8%

The firm has a market capitalization of $2.55 billion, a PE ratio of 68.42 and a beta of 1.03. The stock’s fifty day simple moving average is $10.87 and its 200 day simple moving average is $12.49.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The business had revenue of $159.90 million for the quarter, compared to analysts’ expectations of $153.15 million. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, analysts predict that FIGS, Inc. will post 0.26 EPS for the current year.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.