Hers is a possessive pronoun, being a possessive form of she. It can refer to a singular or plural noun, and it can be the subject, object, or complement of a verb or the object of a preposition: Hers is the car on the left. Your eyes are blue and hers are brown. The bag must be hers.
Possessives like hers, theirs, and yours do not take an apostrophe, even though they end in S.