FIGS (NYSE:FIGS) Given New $27.00 Price Target at KeyCorp

FIGS (NYSE:FIGS) had its price target raised by investment analysts at KeyCorp from $20.00 to $27.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp‘s target price suggests a potential upside of 36.06% from the company’s current price.

Several other research firms also recently weighed in on FIGS. The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.00 target price on shares of FIGS in a report on Friday, August 7th. BTIG Research upped their price target on FIGS from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Weiss Ratings upgraded FIGS from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. Telsey Advisory Group dropped their price objective on FIGS from $17.00 to $16.00 and set a “market perform” rating for the company in a research note on Friday, August 7th. Finally, Barclays raised their target price on FIGS from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.14.

FIGS Stock Performance

Shares of FIGS stock opened at $19.84 on Friday. The business’s 50 day moving average price is $16.24 and its 200 day moving average price is $13.59. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 60.13 and a beta of 1.05. FIGS has a one year low of $7.31 and a one year high of $22.46.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The business had revenue of $190.69 million during the quarter, compared to the consensus estimate of $182.82 million. During the same period last year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, analysts predict that FIGS will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FIGS. Arrowstreet Capital Limited Partnership boosted its holdings in FIGS by 167.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock valued at $60,118,000 after acquiring an additional 2,546,905 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of FIGS by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock worth $52,472,000 after buying an additional 257,644 shares during the last quarter. Jennison Associates LLC grew its holdings in FIGS by 178.4% during the first quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock valued at $20,696,000 after purchasing an additional 897,935 shares during the period. Wellington Management Group LLP purchased a new stake in FIGS in the 2nd quarter worth about $12,304,000. Finally, Bank of America Corp DE grew its stake in FIGS by 190.3% in the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock valued at $11,668,000 after buying an additional 517,918 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Company Profile

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.