Why Figs Stock Was Up This Week
Week to date, shares of Figs (NYSE: FIGS) were up 12% through Thursday's close, according to data provided by S&P Global Market Intelligence.
The move higher came after an analyst raised earnings estimates and the near-term price target for the stock to $11. The news lifted enthusiasm around the company's ability to handle the cost pressures from inflation in the new year.
The shares have been richly valued over the last year. This explains the stock's underperformance, as expensive growth stocks lost favor with Wall Street analysts in 2022. However, the tide could be turning.
Source Fool.com
