Brokerages Set FIGS, Inc. (NYSE:FIGS) Price Target at $13.93

FIGS, Inc. (NYSE:FIGS) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $13.9286.

Several equities research analysts have recently weighed in on FIGS shares. Morgan Stanley upped their price target on FIGS from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Wolfe Research raised shares of FIGS to a “buy” rating in a research note on Wednesday, December 10th. Barclays raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Oppenheimer upgraded shares of FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Friday, March 20th. Finally, KeyCorp raised shares of FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a report on Friday, February 27th.

FIGS Price Performance

NYSE:FIGS opened at $15.29 on Friday. FIGS has a 1 year low of $3.57 and a 1 year high of $17.48. The stock’s fifty day moving average price is $12.68 and its two-hundred day moving average price is $10.41. The company has a market cap of $2.54 billion, a P/E ratio of 80.50 and a beta of 1.22.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $165.33 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. On average, analysts expect that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sarah Oughtred sold 22,690 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $10.56, for a total value of $239,606.40. Following the sale, the chief financial officer owned 821,500 shares in the company, valued at approximately $8,675,040. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather L. Hasson sold 556,327 shares of FIGS 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 $21,095,643.95. This represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 662,140 shares of company stock worth $10,542,161. Corporate insiders own 29.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FIGS. Elevated Capital Advisors LLC bought a new position in shares of FIGS in the fourth quarter worth approximately $45,000. Assetmark Inc. purchased a new position in FIGS in the 3rd quarter worth approximately $35,000. Kemnay Advisory Services Inc. purchased a new position in FIGS in the 4th quarter worth approximately $69,000. Quarry LP increased its holdings in shares of FIGS by 1,876.3% in the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after buying an additional 7,449 shares during the last quarter. Finally, May Hill Capital LLC bought a new position in shares of FIGS in the 4th quarter worth $117,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.