FIGS’s (FIGS) Market Perform Rating Reiterated at Telsey Advisory Group

FIGS (NYSE:FIGS)‘s stock had its “market perform” rating restated by analysts at Telsey Advisory Group in a note issued to investors on Friday, Benzinga reports. They presently have a $6.00 target price on the stock. Telsey Advisory Group’s price target indicates a potential upside of 19.05% from the stock’s current price. Telsey Advisory Group also issued estimates for FIGS’s Q1 2024 earnings at ($0.01) EPS, Q2 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.06 EPS.

A number of other research analysts have also recently commented on FIGS. Bank of America restated an “underperform” rating and issued a $4.50 price target (down from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. Barclays cut their price target on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group cut their price target on shares of FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, Oppenheimer cut shares of FIGS from an “outperform” rating to a “market perform” rating in a report on Friday, March 8th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.94.

FIGS Stock Down 2.7 %

FIGS stock opened at $5.04 on Friday. FIGS has a twelve month low of $4.37 and a twelve month high of $8.84. The stock has a market capitalization of $856.35 million, a price-to-earnings ratio of 45.82, a price-to-earnings-growth ratio of 16.73 and a beta of 1.41. The firm’s fifty day simple moving average is $5.06 and its two-hundred day simple moving average is $5.98.

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

Insiders Place Their Bets

In other FIGS news, CFO Daniella Turenshine sold 15,762 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $5.54, for a total transaction of $87,321.48. Following the transaction, the chief financial officer now directly owns 409,858 shares in the company, valued at approximately $2,270,613.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Daniella Turenshine sold 15,762 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $5.54, for a total transaction of $87,321.48. Following the completion of the sale, the chief financial officer now owns 409,858 shares of the company’s stock, valued at $2,270,613.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather L. Hasson sold 27,547 shares of FIGS stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total transaction of $163,353.71. Following the completion of the transaction, the insider now directly owns 499,308 shares in the company, valued at $2,960,896.44. The disclosure for this sale can be found here. Insiders have sold a total of 49,334 shares of company stock worth $285,986 in the last three months. Corporate insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FIGS. Applied Fundamental Research LLC grew its stake in shares of FIGS by 25.8% during the first quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock worth $12,427,000 after acquiring an additional 511,794 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of FIGS by 23.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock valued at $85,000 after purchasing an additional 3,247 shares during the last quarter. Lineweaver Wealth Advisors LLC acquired a new stake in FIGS in the 1st quarter worth approximately $95,000. Hedges Asset Management LLC purchased a new stake in FIGS during the 1st quarter worth approximately $359,000. Finally, Sanders Morris Harris LLC acquired a new position in FIGS during the 1st quarter valued at approximately $674,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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.