Research Analysts Offer Predictions for FIGS, Inc.’s Q1 2024 Earnings (NYSE:FIGS)

FIGS, Inc. (NYSE:FIGS) – Equities researchers at Telsey Advisory Group issued their Q1 2024 earnings estimates for FIGS in a note issued to investors on Friday, May 3rd. Telsey Advisory Group analyst D. Telsey anticipates that the company will post earnings of ($0.01) per share for the quarter. Telsey Advisory Group currently has a “Market Perform” rating and a $6.00 target price on the stock. The consensus estimate for FIGS’s current full-year earnings is $0.05 per share. Telsey Advisory Group also issued estimates for FIGS’s 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.

FIGS (NYSE:FIGS) last issued its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The business had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $149.09 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year.

A number of other research analysts have also weighed in on FIGS. Barclays reduced their target price on FIGS from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Bank of America reaffirmed an “underperform” rating and set a $4.50 target price (down previously from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. The Goldman Sachs Group cut their price target on shares of FIGS from $4.85 to $4.25 and set a “sell” rating for the company 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 issued a hold rating to the stock. According to MarketBeat.com, FIGS has an average rating of “Hold” and a consensus target price of $4.94.

FIGS Stock Performance

NYSE:FIGS opened at $5.04 on Monday. The business’s fifty day moving average is $5.06 and its 200 day moving average is $5.97. The firm has a market cap of $856.35 million, a price-to-earnings ratio of 45.82, a PEG ratio of 16.27 and a beta of 1.41. FIGS has a 52-week low of $4.37 and a 52-week high of $8.84.

Insider Buying and Selling

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

Institutional Investors Weigh In On FIGS

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in FIGS during the 3rd quarter valued at about $178,000. Bank of New York Mellon Corp increased its stake in shares of FIGS by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 923,080 shares of the company’s stock worth $5,446,000 after buying an additional 30,793 shares during the period. Malaga Cove Capital LLC raised its holdings in FIGS by 176.6% during the 3rd quarter. Malaga Cove Capital LLC now owns 86,269 shares of the company’s stock valued at $509,000 after buying an additional 55,076 shares during the last quarter. Olympiad Research LP bought a new stake in FIGS during the 3rd quarter valued at $151,000. Finally, Principal Financial Group Inc. boosted its position in FIGS by 40.6% during the 3rd quarter. Principal Financial Group Inc. now owns 90,545 shares of the company’s stock valued at $534,000 after buying an additional 26,168 shares during the period. 92.21% of the stock is currently owned by institutional investors.

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.