FIGS (NYSE:FIGS) Stock Price Expected to Rise, Barclays Analyst Says

FIGS (NYSE:FIGS) had its price target boosted by analysts at Barclays from $20.00 to $24.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 13.44% from the company’s previous close.

Several other brokerages also recently weighed in on FIGS. Weiss Ratings upgraded FIGS from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 27th. Oppenheimer boosted their target price on FIGS from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday. Roth Capital restated a “buy” rating on shares of FIGS in a research note on Friday, August 7th. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 price target on shares of FIGS in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.14.

FIGS Stock Performance

Shares of FIGS stock opened at $21.16 on Tuesday. FIGS has a 1 year low of $7.31 and a 1 year high of $22.46. The company’s fifty day moving average is $15.90 and its two-hundred day moving average is $13.46. The company has a market capitalization of $3.52 billion, a P/E ratio of 64.58 and a beta of 1.06.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.08. The firm had revenue of $196.62 million for the quarter, compared to analysts’ expectations of $186.17 million. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. As a group, equities analysts expect that FIGS will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On FIGS

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of FIGS during the 2nd quarter worth approximately $41,000. Sterling Capital Management LLC boosted its stake in shares of FIGS by 848.2% in the third quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock valued at $44,000 after buying an additional 2,833 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock valued at $45,000 after buying an additional 2,396 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of FIGS during the 3rd quarter worth $116,000. Finally, SBI Securities Co. Ltd. grew its position in FIGS by 11,872.9% during the third quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company’s stock worth $196,000 after buying an additional 14,010 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.