FIGS (NYSE:FIGS) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of FIGS (NYSE:FIGS) from a strong-buy rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms have also weighed in on FIGS. Telsey Advisory Group lowered their target price on shares of FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. BTIG Research lifted their price target on shares of FIGS from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, October 30th. Oppenheimer boosted their price target on shares of FIGS from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Weiss Ratings raised shares of FIGS from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 27th. Finally, KeyCorp upped their price objective on shares of FIGS from $20.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.14.

FIGS Price Performance

Shares of NYSE:FIGS opened at $19.96 on Friday. The business’s fifty day moving average price is $16.34 and its two-hundred day moving average price is $13.64. FIGS has a fifty-two week low of $8.00 and a fifty-two week high of $22.46. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 52.53 and a beta of 1.05.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. FIGS had a return on equity of 14.78% and a net margin of 9.67%. The company had revenue of $190.69 million during the quarter, compared to analysts’ expectations of $182.82 million. During the same period last year, the business earned $0.05 earnings per share. The business’s revenue was up 25.7% on a year-over-year basis. Research analysts expect that FIGS will post 0.34 EPS for the current fiscal year.

Institutional Trading of FIGS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of FIGS by 167.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after purchasing an additional 2,546,905 shares during the period. Wellington Management Group LLP acquired a new position in FIGS in the second quarter valued at about $12,304,000. Jennison Associates LLC boosted its holdings in FIGS by 178.4% during the first quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock worth $20,696,000 after buying an additional 897,935 shares during the last quarter. Bank of America Corp DE boosted its holdings in FIGS by 190.3% during the first quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock worth $11,668,000 after buying an additional 517,918 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in FIGS during the first quarter worth about $7,028,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

More FIGS News

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: KeyCorp raised its price target on FIGS to $27 from $20 and reiterated an “overweight” rating. The new target implies 35.3% upside from the cited $19.96 share price. KeyCorp ratings
• Positive Sentiment: FIGS reported Q3 revenue of $190.7 million, up 25.7% year over year and above the $182.8 million analyst estimate. Earnings of $0.10 per share also beat the $0.07 consensus and doubled the year-ago $0.05. Q3 earnings report
• Positive Sentiment: Management also provided optimistic revenue guidance for the next quarter, adding to the upbeat earnings report. Q3 sales and guidance article
• Negative Sentiment: A recent analysis described FIGS as “priced for perfection” after a substantial run-up, suggesting high expectations could limit further gains or magnify a disappointment. Valuation analysis

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.