Brokerages Set FIGS, Inc. (NYSE:FIGS) Price Target at $15.93

FIGS, Inc. (NYSE:FIGS) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.9286.

Several research firms recently issued reports on FIGS. Zacks Research lowered shares of FIGS from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Telsey Advisory Group lifted their price objective on FIGS to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, March 12th. KeyCorp reissued an “overweight” rating on shares of FIGS in a research note on Tuesday, June 23rd. Weiss Ratings lowered FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Oppenheimer upgraded FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, March 20th.

FIGS Trading Up 0.1%

Shares of FIGS stock opened at $10.00 on Tuesday. FIGS has a 1-year low of $5.66 and a 1-year high of $17.48. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 45.45 and a beta of 1.01. The stock has a 50-day moving average of $12.34 and a 200-day moving average of $12.75.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. FIGS had a return on equity of 9.69% and a net margin of 6.10%.The company had revenue of $159.90 million for the quarter, compared to analyst estimates of $153.15 million. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. Sell-side analysts forecast that FIGS will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Heather L. Hasson sold 32,385 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $464,077.05. Following the completion of the sale, the chairman directly owned 1,433,807 shares in the company, valued at $20,546,454.31. This trade represents a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sarah Oughtred sold 23,597 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total value of $338,145.01. Following the transaction, the chief financial officer directly owned 1,129,791 shares in the company, valued at approximately $16,189,905.03. This trade represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 27.06% of the stock is owned by insiders.

Hedge Funds Weigh In On FIGS

A number of institutional investors have recently modified their holdings of FIGS. FourThought Financial Partners LLC lifted its holdings in shares of FIGS by 3.6% in the 4th quarter. FourThought Financial Partners LLC now owns 32,851 shares of the company’s stock worth $373,000 after purchasing an additional 1,138 shares in the last quarter. Corient Private Wealth LLC raised its holdings in FIGS by 0.8% during the second quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock worth $1,878,000 after buying an additional 2,612 shares during the last quarter. Creative Planning raised its holdings in FIGS by 4.9% during the third quarter. Creative Planning now owns 68,932 shares of the company’s stock worth $461,000 after buying an additional 3,192 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of FIGS by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after buying an additional 3,276 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of FIGS by 2.2% during the fourth quarter. Swiss National Bank now owns 183,300 shares of the company’s stock valued at $2,082,000 after buying an additional 3,900 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

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.