FIGS (NYSE:FIGS) Price Target Lowered to $22.00 at Oppenheimer

FIGS (NYSE:FIGS – Get Rating) had its price objective reduced by research analysts at Oppenheimer from $45.00 to $22.00 in a research report issued to clients and investors on Monday, The Fly reports. Oppenheimer’s target price would indicate a potential upside of 128.22% from the company’s current price.

FIGS has been the topic of a number of other research reports. Barclays dropped their price target on FIGS from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, March 10th. Telsey Advisory Group cut their target price on shares of FIGS from $46.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Cowen raised their price target on shares of FIGS from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 9th. KeyCorp decreased their target price on FIGS from $45.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, January 20th. Finally, The Goldman Sachs Group lowered their target price on FIGS from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, March 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $25.71.

FIGS stock opened at $9.64 on Monday. The stock’s fifty day simple moving average is $18.10 and its 200-day simple moving average is $23.08. FIGS has a 52-week low of $9.23 and a 52-week high of $50.40. The stock has a market capitalization of $1.58 billion and a price-to-earnings ratio of -80.33.

FIGS (NYSE:FIGS – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $110.10 million for the quarter, compared to the consensus estimate of $117.33 million. FIGS had a negative return on equity of 2.05% and a negative net margin of 2.73%. FIGS’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. As a group, sell-side analysts forecast that FIGS will post 0.28 EPS for the current year.

In other news, major shareholder Thomas Tull bought 29,185 shares of the stock in a transaction on Thursday, April 21st. The shares were acquired at an average cost of $17.13 per share, for a total transaction of $499,939.05. Following the purchase, the insider now directly owns 25,670,175 shares of the company’s stock, valued at approximately $439,730,097.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniella Turenshine sold 8,414 shares of FIGS stock in a transaction on Wednesday, March 2nd. The shares were 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 acquired a total of 361,972 shares of company stock worth $7,254,405 in the last 90 days.

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in FIGS by 37.5% in the third quarter. Franklin Resources Inc. now owns 3,826,484 shares of the company’s stock worth $142,116,000 after buying an additional 1,043,628 shares in the last quarter. Maryland State Retirement & Pension System bought a new position in FIGS in the 4th quarter valued at approximately $209,000. Shell Asset Management Co. purchased a new stake in shares of FIGS during the fourth quarter valued at $160,000. Twinbeech Capital LP purchased a new stake in shares of FIGS during the 3rd quarter valued at about $317,000. Finally, Advisor Group Holdings Inc. grew its holdings in shares of FIGS by 1,532.2% in the third quarter. Advisor Group Holdings Inc. now owns 28,253 shares of the company’s stock worth $1,053,000 after acquiring an additional 26,522 shares during the period. 70.56% of the stock is owned by hedge funds and other institutional investors.

FIGS Company Profile (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.

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