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

Key Points

• FIGS shares surged 35.8%, opening at $15.20 after BTIG Research raised its price target from $20 to $22 and maintained a Buy rating.
• The company reported strong second-quarter results, with earnings of $0.15 per share and revenue of $196.6 million, both above analyst estimates; revenue rose 28.8% year over year.
• FIGS guided for approximately $757.3 million in fiscal 2026 revenue, above the $729.1 million consensus forecast, though tariffs and freight costs remain potential risks to margins.

FIGS, Inc. (NYSE:FIGS - Get Free Report)'s share price gapped up before the market opened 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 trading hands.

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

FIGS News Roundup

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

Several hedge funds have recently bought and sold shares of FIGS. Elevated Capital Advisors LLC bought a new position in shares of FIGS during the fourth quarter valued at approximately $45,000. Quarry LP increased its position in FIGS by 1,876.3% during the 3rd quarter. Quarry LP now owns 7,846 shares of the company's stock valued at $52,000 after buying an additional 7,449 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in FIGS during the second quarter valued at $61,000. Walleye Capital LLC bought a new stake in FIGS in the second quarter worth $65,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of FIGS in the fourth quarter worth $69,000. Institutional investors own 92.21% of the company's stock.

FIGS Stock Up 35.8%

The firm has a fifty day moving average price of $10.87 and a two-hundred day moving average price of $12.49. The stock has a market capitalization of $2.55 billion, a P/E ratio of 68.42 and a beta of 1.03.

FIGS (NYSE:FIGS - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $159.90 million for the quarter, compared to analysts' expectations of $153.15 million. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The company's revenue was up 28.0% on a year-over-year basis. Sell-side analysts anticipate that FIGS, Inc. will post 0.26 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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