FIGS, Inc. (NYSE:FIGS) Receives $42.42 Average PT from Analysts

FIGS, Inc. (NYSE:FIGS) has been given a consensus recommendation of “Buy” by the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $42.42.

Several equities analysts have recently issued reports on the company. Zacks Investment Research cut FIGS from a “buy” rating to a “hold” rating in a research report on Tuesday, November 16th. Morgan Stanley increased their target price on shares of FIGS from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, August 13th. Credit Suisse Group upped their price target on FIGS from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, November 11th. Telsey Advisory Group boosted their target price on FIGS from $43.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, August 13th. Finally, Piper Sandler reissued a “buy” rating and issued a $45.00 price target on shares of FIGS in a research note on Monday, August 30th.

FIGS stock traded up $2.26 on Thursday, reaching $32.96. The company’s stock had a trading volume of 1,929,835 shares, compared to its average volume of 1,723,876. FIGS has a 52 week low of $28.25 and a 52 week high of $50.40. The business has a fifty day simple moving average of $36.72.

FIGS (NYSE:FIGS) last announced its earnings results on Wednesday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $102.70 million during the quarter, compared to analyst estimates of $96.75 million. FIGS had a negative net margin of 2.63% and a negative return on equity of 6.32%. On average, sell-side analysts forecast that FIGS will post -0.1 EPS for the current fiscal year.

In related news, major shareholder Global Investors Lp Viking sold 157,587 shares of the company’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $47.28, for a total transaction of $7,450,713.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Catherine Eva Spear sold 89,060 shares of the business’s stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $34.29, for a total value of $3,053,867.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,714,971 shares of company stock worth $69,604,622.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its position in FIGS by 77.1% in the 3rd quarter. US Bancorp DE now owns 687 shares of the company’s stock valued at $26,000 after acquiring an additional 299 shares in the last quarter. Clearstead Advisors LLC bought a new position in FIGS in the 3rd quarter valued at $26,000. Parallel Advisors LLC acquired a new stake in shares of FIGS in the 3rd quarter valued at $33,000. Gradient Investments LLC bought a new stake in shares of FIGS during the third quarter worth $37,000. Finally, Signaturefd LLC bought a new position in FIGS in the third quarter valued at about $37,000. Institutional investors and hedge funds own 29.21% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, masks, and face shields. The company markets and sells its products through its digital platform comprising website and mobile app.

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Analyst Recommendations for FIGS (NYSE:FIGS)

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