Analysts Set FIGS, Inc. (NYSE:FIGS) Price Target at $10.10

FIGS, Inc. (NYSE:FIGS) has earned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.10.

A number of equities research analysts have recently issued reports on the company. BTIG Research boosted their target price on FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Wolfe Research upgraded FIGS to a “buy” rating in a report on Wednesday, December 10th. Barclays upped their price objective on shares of FIGS from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Morgan Stanley lifted their target price on shares of FIGS from $7.50 to $8.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of FIGS in a research report on Monday, December 29th.

FIGS Stock Performance

Shares of NYSE:FIGS opened at $11.07 on Friday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 110.65 and a beta of 1.29. FIGS has a 1-year low of $3.57 and a 1-year high of $12.50. The company has a 50 day moving average price of $11.43 and a 200 day moving average price of $8.77.

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

Insiders Place Their Bets

In other FIGS news, CEO Catherine Eva Spear sold 49,734 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $11.38, for a total transaction of $565,972.92. Following the completion of the sale, the chief executive officer directly owned 1,857,299 shares in the company, valued at approximately $21,136,062.62. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sarah Oughtred sold 10,515 shares of FIGS stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $11.50, for a total value of $120,922.50. Following the transaction, the chief financial officer directly owned 834,830 shares in the company, valued at approximately $9,600,545. This trade represents a 1.24% decrease in their position. The SEC filing for this sale provides additional information. 29.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in shares of FIGS by 12,795.0% in the second quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock valued at $29,000 after acquiring an additional 5,118 shares during the period. XTX Topco Ltd acquired a new position in FIGS during the 2nd quarter valued at $671,000. Y Intercept Hong Kong Ltd boosted its holdings in FIGS by 943.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 261,232 shares of the company’s stock valued at $1,748,000 after purchasing an additional 236,195 shares during the period. Catalyst Funds Management Pty Ltd bought a new stake in FIGS in the 2nd quarter valued at $72,000. Finally, Bamco Inc. NY grew its position in FIGS by 2.2% in the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock worth $338,256,000 after purchasing an additional 1,302,823 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.