FIGS (NYSE:FIGS) Hits New 52-Week High Following Better-Than-Expected Earnings

FIGS, Inc. (NYSE:FIGS)’s stock price hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $8.89 and last traded at $8.8440, with a volume of 664472 shares. The stock had previously closed at $7.52.

The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $151.66 million during the quarter, compared to analysts’ expectations of $142.39 million. FIGS had a return on equity of 4.58% and a net margin of 3.03%.The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. FIGS has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $9.00 target price (up from $7.00) on shares of FIGS in a report on Monday, November 3rd. Morgan Stanley raised their target price on FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Cowen restated a “hold” rating on shares of FIGS in a research report on Friday, August 8th. BTIG Research increased their price objective on shares of FIGS from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group boosted their target price on shares of FIGS from $5.00 to $5.50 and gave the company a “sell” rating in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.90.

Insider Activity at FIGS

In other news, CEO Catherine Eva Spear sold 62,213 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total value of $428,025.44. Following the completion of the sale, the chief executive officer directly owned 1,907,033 shares of the company’s stock, valued at $13,120,387.04. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather L. Hasson sold 23,356 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $172,600.84. Following the sale, the insider owned 1,274,841 shares of the company’s stock, valued at approximately $9,421,074.99. This represents a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 184,148 shares of company stock valued at $1,295,234 over the last ninety days. Insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

Large investors have recently made changes to their positions in the company. Levin Capital Strategies L.P. acquired a new position in FIGS during the third quarter valued at approximately $84,000. GSA Capital Partners LLP lifted its stake in shares of FIGS by 4.2% in the third quarter. GSA Capital Partners LLP now owns 52,045 shares of the company’s stock worth $348,000 after buying an additional 2,083 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of FIGS by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after buying an additional 425,189 shares during the period. Assetmark Inc. acquired a new position in FIGS in the 3rd quarter valued at $35,000. Finally, Cornerstone Investment Partners LLC acquired a new position in FIGS in the 3rd quarter valued at $151,000. Institutional investors own 92.21% of the company’s stock.

FIGS Trading Up 13.9%

The stock has a market cap of $1.40 billion, a P/E ratio of 85.69, a P/E/G ratio of 4.82 and a beta of 1.34. The firm’s fifty day moving average is $7.29 and its 200 day moving average is $6.15.

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.