FIGS (NYSE:FIGS) Stock Price Expected to Rise, Barclays Analyst Says

FIGS (NYSE:FIGS) had its price target hoisted by Barclays from $7.00 to $9.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 6.35% from the stock’s previous close.

Several other equities research analysts have also recently commented on FIGS. Morgan Stanley raised their target price on FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 12th. BTIG Research raised their price objective on shares of FIGS from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Weiss Ratings upgraded shares of FIGS from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their target price on shares of FIGS from $5.00 to $5.50 and gave the stock a “sell” rating in a research note on Friday, November 7th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.70.

FIGS Stock Up 8.8%

FIGS stock opened at $9.61 on Monday. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 96.10, a PEG ratio of 3.58 and a beta of 1.34. FIGS has a 12-month low of $3.57 and a 12-month high of $9.65. The company’s fifty day simple moving average is $7.39 and its 200 day simple moving average is $6.26.

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

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 23,356 shares of the company’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 transaction, the insider directly owned 1,274,841 shares of the company’s stock, valued at $9,421,074.99. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Catherine Eva Spear sold 62,213 shares of FIGS stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total transaction 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 approximately $13,120,387.04. The trade was a 3.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 118,282 shares of company stock valued at $842,076 over the last ninety days. 29.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after acquiring an additional 5,118 shares during the last quarter. Assetmark Inc. acquired a new position in FIGS during the 3rd quarter valued at about $35,000. Capstone Financial Advisors Inc. bought a new stake in FIGS during the 2nd quarter worth approximately $56,000. Hudson Bay Capital Management LP bought a new stake in FIGS during the 2nd quarter worth approximately $61,000. Finally, Walleye Capital LLC purchased a new stake in shares of FIGS in the second quarter worth approximately $65,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.