FIGS (NYSE:FIGS) Shares Up 6.4% Following Analyst Upgrade

FIGS, Inc. (NYSE:FIGS) traded up 6.4% during trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $9.33 and last traded at $9.3950. 436,997 shares were traded during mid-day trading, a decline of 78% from the average session volume of 2,020,238 shares. The stock had previously closed at $8.83.

FIGS has been the topic of a number of other research reports. BTIG Research raised their price objective on FIGS from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Morgan Stanley boosted their target price on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. The Goldman Sachs Group upped their price objective on FIGS from $5.00 to $5.50 and gave the stock a “sell” rating in a research report on Friday, November 7th. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 12th. Finally, Weiss Ratings raised shares of FIGS from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.70.

Insiders Place Their Bets

In related news, CFO Sarah Oughtred sold 22,745 shares of FIGS stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total value of $168,085.55. Following the completion of the transaction, the chief financial officer directly owned 845,345 shares in the company, valued at approximately $6,247,099.55. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather L. Hasson sold 23,356 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total value of $172,600.84. Following the transaction, the insider directly 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 118,282 shares of company stock worth $842,076 over the last 90 days. Corporate insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its holdings in FIGS by 4.2% in the 3rd quarter. GSA Capital Partners LLP now owns 52,045 shares of the company’s stock valued at $348,000 after acquiring an additional 2,083 shares during the last quarter. Corient Private Wealth LLC raised its stake in FIGS by 0.8% during the second quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock worth $1,878,000 after purchasing an additional 2,612 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of FIGS by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after purchasing an additional 3,276 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock valued at $29,000 after buying an additional 5,118 shares during the period. Finally, Assetmark Inc. acquired a new stake in shares of FIGS during the 3rd quarter worth $35,000. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Stock Performance

The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 96.10, a P/E/G ratio of 3.58 and a beta of 1.34. The business has a fifty day moving average price of $7.39 and a 200 day moving average price of $6.26.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The firm had revenue of $151.66 million during the quarter, compared to the consensus estimate of $142.39 million. During the same quarter in the prior year, the company earned ($0.01) EPS. The company’s revenue was up 8.2% on a year-over-year basis. FIGS has set its FY 2025 guidance at EPS. On average, analysts expect that FIGS, Inc. will post 0.01 earnings per share for the current year.

About FIGS

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.