Figs downgraded to Market Perform from Outperform at Raymond James

Raymond James analyst Rick Patel downgraded Figs to Market Perform from Outperform without a price target. Channel checks show slower site traffic intra-quarter in Q2 while the restart of student loan payments is a risk for the company, the analyst tells investors in a research note. The stock is up 14% over the last three months despite the likelihood that macro headwinds will persist or even worsen with student loan payments re-starting this fall. says the firm.