FIGS (NYSE:FIGS) Sets New 1-Year High – What’s Next?

FIGS, Inc. (NYSE:FIGS)’s share price reached a new 52-week high during trading on Wednesday. The company traded as high as $20.44 and last traded at $20.3640, with a volume of 724,488 shares traded. The stock had previously closed at $19.86.

Analysts Set New Price Targets

FIGS has been the subject of several recent research reports. Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. KeyCorp increased their target price on shares of FIGS from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. BTIG Research raised their price target on shares of FIGS from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of FIGS in a report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 price objective on shares of FIGS in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

FIGS Trading Up 2.0%

The stock has a market cap of $3.39 billion, a P/E ratio of 61.77 and a beta of 1.06. The firm’s 50-day simple moving average is $15.00 and its 200 day simple moving average is $13.23.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.07 by $0.08. The firm had revenue of $196.62 million for the quarter, compared to analysts’ expectations of $186.17 million. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The firm’s revenue was up 28.8% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. On average, analysts anticipate that FIGS, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On FIGS

Several hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in FIGS during the second quarter worth about $41,000. Sterling Capital Management LLC increased its position in shares of FIGS by 848.2% in the third quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock worth $44,000 after acquiring an additional 2,833 shares in the last quarter. IFP Advisors Inc increased its position in shares of FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after acquiring an additional 2,396 shares in the last quarter. OP Asset Management Ltd purchased a new position in shares of FIGS in the first quarter worth approximately $115,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of FIGS during the third quarter valued at approximately $116,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.