Figs jumps after Raymond James highlights positive momentum

Shares of Figs (FIGS) are moving higher after Raymond James analyst Rick Patel spoke of the company’s positive momentum following meetings with management. The tone of the meetings was positive, said Raymond James, which walked away with greater optimism that the company’s first half of 2025 momentum should carry through to the second half. The company’s outlook factors in softness on fewer promotions in the back half of the year, , but reduced discounting in the first half of 2025 still yielded better than expected results, the analyst told investors in a research note. The firm kept a Market Perform rating on Figs. The stock in afternoon trading is up 9% to $7.36.