FIGS (NYSE:FIGS) Shares Climb 5.5% – Here’s Why

FIGS, Inc. (NYSE:FIGS) shares rose 5.5% during mid-day trading on Monday. The stock traded as high as $16.63 and last traded at $16.6460. Approximately 753,193 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,223,112 shares. The stock had previously closed at $15.78.

FIGS News Roundup

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: Strong technical momentum: FIGS broke above a reported buy point and was ranked the top stock in its apparel industry group. Its shares are trading well above their 50-day and 200-day moving averages, reinforcing the bullish trend. Out Of Nowhere, This Small-Cap Company Becomes No. 1 Apparel Stock
• Positive Sentiment: Product innovation is supporting customer loyalty: New scrub designs, improved fits and broader apparel offerings are helping FIGS deepen customer engagement and potentially support revenue growth. FIGS’ Product Innovation Strengthens Customer Loyalty & Engagement
• Positive Sentiment: Options activity signals increased speculation: Traders purchased 2,026 FIGS call options, approximately double the typical volume of 1,014 contracts. Although options activity is not a fundamental catalyst, it suggests heightened bullish interest.
• Positive Sentiment: Recent operating results provide fundamental support: FIGS’ latest reported quarter exceeded analyst expectations for both earnings and revenue, while revenue increased 28.8% year over year. The results strengthen the case behind the stock’s momentum.
• Neutral Sentiment: Momentum-investor appeal is rising: Zacks highlighted FIGS as a strong momentum candidate after its weekly rally. However, the commentary primarily reflects price strength and ranking factors rather than a new earnings forecast. FIGS Is Up 16.72% in One Week
• Negative Sentiment: Valuation and breakout risk warrant caution: With a P/E ratio above 60 and the stock near its annual high, expectations are elevated. Further gains may depend on FIGS converting product momentum and customer engagement into sustained earnings growth.

Analyst Ratings Changes

FIGS has been the subject of several recent research reports. Telsey Advisory Group reduced their price target on FIGS from $17.00 to $16.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. Barclays increased their price target on shares of FIGS from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a research report on Saturday. KeyCorp raised their price target on FIGS from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of FIGS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

FIGS Stock Up 1.4%

The firm’s 50-day moving average is $14.15 and its 200-day moving average is $13.00. The company has a market cap of $2.99 billion, a PE ratio of 54.50 and a beta of 1.06.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The company had revenue of $196.62 million for the quarter, compared to analysts’ expectations of $186.17 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities research analysts anticipate that FIGS, Inc. will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On FIGS

A number of hedge funds have recently added to or reduced their stakes in FIGS. Tidal Investments LLC raised its stake in FIGS by 69.6% during the 2nd quarter. Tidal Investments LLC now owns 27,467 shares of the company’s stock valued at $281,000 after buying an additional 11,270 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in FIGS during the second quarter valued at $41,000. IFP Advisors Inc lifted its position in shares of FIGS by 120.2% during the 2nd quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock valued at $45,000 after buying an additional 2,396 shares in the last quarter. Navellier & Associates Inc. lifted its holdings in FIGS by 118.8% during the second quarter. Navellier & Associates Inc. now owns 44,128 shares of the company’s stock valued at $451,000 after purchasing an additional 23,957 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of FIGS during the 2nd quarter valued at $12,304,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc (NYSE: FIGS) is a healthcare apparel and lifestyle company that designs and sells clothing, footwear, accessories and other products for healthcare professionals. Its product portfolio includes medical scrubs, lab coats, jackets, underscrubs, shoes, bags and related essentials designed for use in clinical and professional settings.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS built its business around modern, performance-oriented alternatives to traditional medical uniforms.