Figs

FIGS · NYSE

$19.86+$0.41 (+2.11%)TodayMarket closed · Oct 20, 7:36 PM ET

Prev close $19.45

FIGS analyst rating

HoldConsensus of 7 analysts over the last 12 months. 57% rate it a buy.

Strong buy0
Buy4
Hold2
Underperform0
Sell1

12-month price target · 10 analysts

Average $19.00 (−4.3% downside)

Low: $15.15
Now: $19.86
High: $23.10

Upgrades and downgrades

The latest rating actions, newest first

FIGS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Telsey Advisory Group	Aug 7, 2026	Maintains	Market Perform	$17.00 → $16.00	47%
Keybanc	Aug 7, 2026	Maintains	Overweight	$19.00 → $20.00	32%
Barclays	Aug 7, 2026	Maintains	Overweight	$17.00 → $20.00	55%
BTIG	Aug 7, 2026	Maintains	Buy	$20.00 → $22.00	55%
Keybanc	Apr 28, 2026	Maintains	Overweight	$17.00 → $19.00	32%
BTIG	Apr 24, 2026	Maintains	Buy	$20.00	55%
Morgan Stanley	Apr 13, 2026	Maintains	Equal-Weight	$8.00 → $15.00	40%
Oppenheimer	Mar 20, 2026	Upgrade	Perform → Outperform	$22.00	50%
Telsey Advisory Group	Mar 12, 2026	Maintains	Market Perform	$15.00 → $17.00	47%
BTIG	Mar 4, 2026	Maintains	Buy	$15.00 → $20.00	55%

The case for and against

Updated Oct 14, 2026

Bull case

FIGS is benefiting from clear evidence that its brand momentum is becoming more structural, with search traffic and social followers still rising, active customers reaching a record 3.1 million, and net revenue per active customer hitting an all-time high of $229. The latest quarter reinforced execution quality as net sales climbed 28.8% to $197 million, gross margin expanded to 75.2% and adjusted EBITDA reached $36.6 million, while growth broadened across scrubwear, non-scrubwear, the U.S., and international markets. With a debt-free balance sheet, strong free cash flow, and multiple scaling levers in international, TEAMS, Community Hubs, and product expansion, the company appears well positioned for durable top-line growth and margin expansion.

Bear case

FIGS is facing a negative setup because its core scrubwear business, while still the main revenue driver, may be vulnerable to commoditization as technical fabrics become more widely available and competitors copy its functionality and style advantages. The company also faces meaningful external pressure from a weakening macro environment, inflation, tariffs, supply chain and logistics disruptions, and a slowdown or shrinking of the healthcare market, any of which could hurt sales and profitability. Its lifestyle products are still in the early stages, and expansion beyond scrubs may expose it to established activewear and lifestyle brands with deeper resources and stronger scale.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.