FIGS, Inc. (NYSE:FIGS) Receives Average Recommendation of “Buy” from Analysts

FIGS, Inc. (NYSE:FIGSGet Rating) has earned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $33.21.

Several equities analysts have issued reports on FIGS shares. KeyCorp dropped their target price on FIGS from $45.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, January 20th. Barclays lowered their target price on FIGS from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, March 10th. Bank of America lowered their target price on FIGS from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, March 9th. Truist Financial started coverage on FIGS in a report on Thursday, April 7th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Cowen upped their target price on FIGS from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, March 9th.

NYSE FIGS opened at $12.33 on Thursday. The business’s 50 day moving average is $18.19 and its two-hundred day moving average is $23.47. FIGS has a 12-month low of $12.22 and a 12-month high of $50.40.

FIGS (NYSE:FIGSGet Rating) last released its earnings results on Tuesday, March 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.08. FIGS had a negative return on equity of 1.83% and a negative net margin of 2.28%. The company had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $128.06 million. The business’s revenue was up 42.7% compared to the same quarter last year. As a group, equities research analysts forecast that FIGS will post 0.28 EPS for the current year.

In other FIGS news, major shareholder Thomas Tull bought 68,300 shares of FIGS stock in a transaction that occurred on Friday, April 1st. The shares were purchased at an average cost of $21.91 per share, for a total transaction of $1,496,453.00. Following the completion of the transaction, the insider now owns 2,101,277 shares of the company’s stock, valued at approximately $46,038,979.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniella Turenshine sold 8,414 shares of the stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $14.63, for a total value of $123,096.82. The disclosure for this sale can be found here. Insiders bought 361,972 shares of company stock worth $7,254,405 over the last 90 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its position in FIGS by 4,226.5% during the first quarter. US Bancorp DE now owns 60,354 shares of the company’s stock worth $1,299,000 after buying an additional 58,959 shares during the period. Bank of New York Mellon Corp increased its stake in FIGS by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 248,047 shares of the company’s stock worth $5,338,000 after acquiring an additional 2,126 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in FIGS during the first quarter worth about $3,535,000. Raymond James & Associates increased its stake in FIGS by 12.8% during the first quarter. Raymond James & Associates now owns 9,970 shares of the company’s stock worth $215,000 after acquiring an additional 1,129 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in FIGS by 7.4% during the first quarter. JPMorgan Chase & Co. now owns 1,358,243 shares of the company’s stock worth $29,229,000 after acquiring an additional 93,010 shares during the last quarter. Hedge funds and other institutional investors own 70.56% of the company’s stock.

About FIGS (Get Rating)

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.

Further Reading

Analyst Recommendations for FIGS (NYSE:FIGS)

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