Brokerages Set FIGS, Inc. (NYSE:FIGS) Target Price at $14.93

FIGS, Inc. (NYSE:FIGS) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $14.9286.

A number of equities research analysts recently commented on the company. Telsey Advisory Group increased their price target on FIGS to $17.00 and gave the company a “market perform” rating in a research report on Thursday, March 12th. KeyCorp raised FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research report on Friday, February 27th. The Goldman Sachs Group raised FIGS from a “strong sell” rating to a “hold” rating in a research report on Friday, February 27th. Morgan Stanley increased their price target on FIGS from $8.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, April 13th. Finally, Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th.

FIGS Trading Down 2.5%

NYSE FIGS opened at $15.51 on Thursday. The firm has a market capitalization of $2.58 billion, a P/E ratio of 81.61 and a beta of 1.20. The business has a fifty day simple moving average of $14.24 and a 200 day simple moving average of $11.56. FIGS has a 12 month low of $3.82 and a 12 month high of $17.48.

FIGS (NYSE:FIGS) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. The business had revenue of $201.90 million during the quarter, compared to analyst estimates of $165.33 million. FIGS had a return on equity of 8.41% and a net margin of 5.43%.FIGS’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. As a group, sell-side analysts predict that FIGS will post 0.24 EPS for the current fiscal year.

Insider Activity at FIGS

In other news, CEO Catherine Eva Spear sold 62,335 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $14.44, for a total transaction of $900,117.40. Following the completion of the sale, the chief executive officer directly owned 1,794,964 shares of the company’s stock, valued at $25,919,280.16. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heather L. Hasson sold 556,327 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total value of $9,374,109.95. Following the sale, the insider directly owned 1,251,967 shares of the company’s stock, valued at approximately $21,095,643.95. This represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 675,098 shares of company stock valued at $10,912,375. 29.44% of the stock is owned by insiders.

Institutional Investors Weigh In On FIGS

Several large investors have recently made changes to their positions in the business. Assetmark Inc. bought a new position in shares of FIGS during the 3rd quarter worth $35,000. Elevated Capital Advisors LLC bought a new position in shares of FIGS during the 4th quarter worth $45,000. Quarry LP grew its stake in shares of FIGS by 1,876.3% during the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after acquiring an additional 7,449 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of FIGS during the 2nd quarter worth $61,000. Finally, Walleye Capital LLC bought a new position in shares of FIGS during the 2nd quarter worth $65,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.