KeyBanc Upgrade Sends Figs Inc. Shares Up 23.9% to $15.90 Four-Year High
KeyBanc upgraded Figs Inc. to overweight with a $17 price target, sending the stock up 23.9% to a four-year high of $15.90. Last year net income surged 1,159% to $34.25 million on $631 million revenue, Q4 profit jumped 884% to $18.5 million, and 2026 revenue is guided 10–12% higher.
1. Stock Upgrade and Rally
KeyBanc raised Figs Inc.’s rating to overweight from sector weight and set a $17 price target. The stock climbed to a nearly four-year high of $15.90 before closing up 23.9% at $15.45.
2. Fiscal 2025 Performance
Full-year net income jumped 1,159% to $34.25 million from $2.72 million, while revenues rose 13.7% to $631 million from $555 million, driven by higher orders and average order value.
3. Fourth-Quarter Results
In Q4, net profit soared 884% to $18.5 million from $1.88 million, and net revenues increased 33% to $201.9 million from $151.8 million, reflecting strong seasonal demand.
4. 2026 Outlook
Figs Inc. projects net revenue growth of 10–12% for full-year 2026 versus 2025, with adjusted EBITDA margins anticipated between 12.7% and 12.9%.