FIGS (NYSE:FIGS) Price Target Cut to $4.25 by Analysts at The Goldman Sachs Group

FIGS (NYSE:FIGS) had its price objective decreased by The Goldman Sachs Group from $4.85 to $4.25 in a report issued on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

Other research analysts have also issued reports about the company. Telsey Advisory Group lowered FIGS from an outperform rating to a market perform rating and reduced their target price for the stock from $11.00 to $6.00 in a report on Thursday, February 29th. Barclays reduced their target price on FIGS from $7.00 to $5.00 and set an equal weight rating on the stock in a report on Friday, March 1st. Bank of America reiterated an underperform rating and set a $4.50 target price (down from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. Finally, Oppenheimer lowered FIGS from an outperform rating to a market perform rating in a report on Friday, March 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $5.75.

FIGS Stock Up 0.7 %

NYSE:FIGS opened at $4.80 on Tuesday. FIGS has a 12-month low of $4.37 and a 12-month high of $8.84. The firm has a market capitalization of $814.72 million, a P/E ratio of 43.59, a P/E/G ratio of 15.47 and a beta of 1.49. The stock’s fifty day simple moving average is $5.26 and its 200-day simple moving average is $6.05.

FIGS (NYSE:FIGS) last posted its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $144.90 million for the quarter, compared to analyst estimates of $149.09 million. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, equities research analysts expect that FIGS will post 0.06 earnings per share for the current year.

Insider Activity

In other news, CFO Daniella Turenshine sold 4,201 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $6.00, for a total value of $25,206.00. Following the sale, the chief financial officer now directly owns 425,620 shares in the company, valued at $2,553,720. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Heather L. Hasson sold 27,547 shares of FIGS stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total value of $163,353.71. Following the sale, the insider now owns 499,308 shares of the company’s stock, valued at $2,960,896.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniella Turenshine sold 4,201 shares of FIGS stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $6.00, for a total value of $25,206.00. Following the completion of the sale, the chief financial officer now directly owns 425,620 shares in the company, valued at approximately $2,553,720. The disclosure for this sale can be found here. Insiders have sold a total of 49,334 shares of company stock worth $285,986 over the last three months. Corporate insiders own 21.40% of the company’s stock.

Institutional Trading of FIGS

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its position in FIGS by 50.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares during the last quarter. Octavia Wealth Advisors LLC bought a new stake in shares of FIGS during the fourth quarter worth approximately $75,000. International Assets Investment Management LLC bought a new stake in shares of FIGS during the fourth quarter worth approximately $76,000. Janney Montgomery Scott LLC bought a new stake in shares of FIGS during the third quarter worth approximately $78,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of FIGS during the fourth quarter worth approximately $90,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.