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Stocks•17 April 2026•

1 min read

Morgan Stanley Raises FIGS Price Target to $15, Maintains Equal Weight Rating

Key Facts

1Morgan Stanley maintained an 'Equal Weight' rating on FIGS, Inc. but increased the price objective from $8 to $15.

2Q4 2025 net revenue rose by 33% to $201.9 million.

3The company forecasts 10% to 12% sales growth for 2026.

Morgan Stanley has updated its outlook on FIGS, Inc., significantly raising its price target from $8 to $15 while maintaining an 'Equal Weight' rating. This adjustment follows a robust financial performance, with Q4 2025 net revenue surging 33% to $201.9 million. The bank highlighted that the price target hike is supported by improved fundamentals and sharp execution, noting a 108% growth observed over a six-month period. Looking ahead, FIGS forecasts steady sales growth between 10% and 12% for the fiscal year 2026. While the analyst team acknowledged the company's margin expansion and strong momentum, the neutral rating suggests the stock is currently perceived as fairly valued. This move signals confidence in the company's operational trajectory despite broader market caution.