FIGS Stock Jumps +48% in 30 Days After Strong Earnings Beat
Key Takeaways
- FIGS shares climbed roughly 48% over the last 30 days, rising from about $9.92 in late July to $14.68 at the most recent close.
- The surge was driven by a second-quarter earnings beat that came in well above Wall Street expectations, plus a raised full-year outlook.
- Revenue grew 28.8% year over year to $196.6 million, while GAAP earnings per share of $0.15 more than doubled the $0.07 consensus estimate.
- Management lifted fiscal 2026 revenue growth guidance to roughly 20%, up from a prior range of 14% to 16%, and added a new $100 million buyback authorization.
- Valuation has expanded sharply, leaving shares trading at a premium that raises the bar for continued execution.
Understanding FIGS, Inc. (FIGS) and Its Market Position
FIGS, Inc. is a direct-to-consumer designer and retailer of medical apparel and accessories for healthcare professionals. Founded in 2013 by Heather Hasson and Trina Spear, the company disrupted the traditional scrub uniform market by pairing technical, functional fabrics with a premium, fashion-forward brand identity. Its product line spans scrub sets, lab coats, underscrubs, outerwear, footwear, compression socks, and accessories built around proprietary performance fabrics.
The company sells primarily through its e-commerce platform and mobile app, complemented by a growing network of physical "Community Hubs" and a "Teams" institutional channel that outfits healthcare organizations. FIGS differentiates itself through brand storytelling, limited-edition collaborations, and a focus on fit and comfort, which has supported strong customer loyalty and higher-than-average order values. Investors follow the stock closely because of its exposure to non-discretionary, replenishment-driven healthcare apparel demand and its international expansion runway. When I reviewed comparable names in the sector, I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
FIGS Stock Price Performance: Last 30 Days vs. Quarter
Over the last 30 days, FIGS shares climbed approximately 48%, advancing from around $9.92 in late July to $14.68 at the most recent close. The move was concentrated in a single session in early August, when the stock jumped more than 25% after second-quarter results were released, before consolidating in the mid-$14 range. From what I see, that kind of sharp reaction often signals a meaningful shift in sentiment.
The trailing three-month picture reflects a more volatile path. Shares entered the period near $12, declined through June and July to a low around $9.17, and then recovered sharply on the earnings-driven rebound. Net of that volatility, the stock finished the quarter up roughly 20%, but it remains below its 52-week high. I’m watching this closely because the rebound has now pushed valuation metrics into new territory.
What Drove the Recent Surge in FIGS Shares
The dominant catalyst was the company's second-quarter earnings report. FIGS posted net revenue of $196.6 million, up 28.8% year over year and ahead of analyst estimates, while GAAP earnings per share of $0.15 far exceeded the $0.07 consensus. Net income rose to $28.4 million from $7.1 million a year earlier.
Growth was broad-based: scrubwear revenue rose 27%, non-scrubwear grew 40%, U.S. revenue increased 22%, and international revenue jumped 67%. Active customers grew 13% to 3.1 million, average order value reached a record $127, and net revenue per active customer hit an all-time high of $229.
Profitability also improved sharply. Gross margin expanded 820 basis points to 75.2%, including a benefit from a $15.4 million IEEPA tariff refund, and adjusted EBITDA margin rose to 18.6% from 12.9% a year earlier. Management raised its full-year 2026 revenue growth outlook to approximately 20% and authorized an additional $100 million in share repurchases. Several analysts lifted their price targets following the report, reinforcing positive sentiment.
Looking Back at the Quarter’s Mixed Performance
The quarterly trend was shaped by two opposing forces. Earlier in the period, shares fell roughly 26% after the company's first-quarter report, which beat headline expectations but disappointed investors on free cash flow and active customer growth. That weakness carried the stock to a multi-month low near $9.17 in late July.
The narrative reversed with the second-quarter report, which demonstrated accelerating profitability, record customer economics, and raised guidance. The acquisition of V Coterie, a maker of healthcare-focused jewelry and accessories, signaled a push into adjacent categories, while international and institutional channels provided incremental growth drivers. A U.S. Customs and Border Protection order affecting imports from a Jordan manufacturing partner introduced a near-term supply-chain overhang, but management indicated it had already shifted capacity and air freight to mitigate the impact.
FIGS Stock Forecast Drivers: What to Watch Next
Looking ahead, investors will monitor several factors. Execution against the raised guidance will be a key test, particularly in the fourth quarter, which faces a difficult comparison against roughly 33% growth a year earlier. The Jordan import restriction and the use of expedited freight represent margin risks in the second half, while the timing and sell-through of tariff-related inventory benefits will affect reported profitability.
Continued progress in international expansion, the Teams institutional channel, and Community Hub store openings will indicate whether growth can broaden further. Demand trends such as active customer growth, average order value, and purchase frequency remain central to the story. Finally, valuation is a key consideration: with shares trading at a substantial premium to industry peers on a forward earnings basis, the market will require sustained growth and margin delivery to justify current levels. One thing that stands out here is how quickly expectations have reset higher.
Exploring Tickeron’s Trending AI Robots for Additional Context
For traders seeking a data-driven edge, I’ve found Tickeron’s Trending AI Robots page helpful when reviewing momentum in names like this. It highlights a curated selection of top-performing AI trading bots across different strategies and timeframes, allowing users to compare approaches and identify signals that align with their own style. In my analysis, it offers one more lens on how automated strategies are currently positioned around healthcare apparel names.
Disclaimer
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FIGS's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for FIGS turned positive on September 30, 2026. Looking at past instances where FIGS's MACD turned positive, the stock continued to rise in 37 of 42 cases over the following month. The odds of a continued upward trend are 88%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on September 29, 2026. You may want to consider a long position or call options on FIGS as a result. In 69 of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 80%.
FIGS moved above its 50-day moving average on September 25, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for FIGS crossed bullishly above the 50-day moving average on October 07, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 13 of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 81%.
The 50-day moving average for FIGS moved above the 200-day moving average on September 18, 2026. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a +14.07% 3-day Advance, the price is estimated to grow further. Considering data from situations where FIGS advanced for three days, in 201 of 252 cases, the price rose further within the following month. The odds of a continued upward trend are 80%.
Bearish Trend Analysis
The RSI Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 10 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FIGS declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 83%.
FIGS broke above its upper Bollinger Band on October 09, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for FIGS entered a downward trend on October 05, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 34 (best 1 - 100 worst), indicating steady price growth. FIGS’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 57 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 80 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.115) is normal, around the industry mean (5.929). FIGS has a moderately high P/E Ratio (41.273) as compared to the industry average of (22.594). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.686). Dividend Yield (0.000) settles around the average of (0.017) among similar stocks. FIGS's P/S Ratio (3.461) is very high in comparison to the industry average of (0.827).
The Tickeron PE Growth Rating for this company is 98 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. FIGS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock worse than average.
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