FIGS’s (FIGS) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of FIGS (NYSE:FIGS) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $6.00 target price on the stock. Telsey Advisory Group also issued estimates for FIGS’s Q1 2024 earnings at ($0.01) EPS, Q2 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.06 EPS.

A number of other research firms have also commented on FIGS. The Goldman Sachs Group reduced their price objective on FIGS from $4.85 to $4.25 and set a sell rating on the stock in a research note on Tuesday, April 23rd. Oppenheimer downgraded shares of FIGS from an outperform rating to a market perform rating in a research report on Friday, March 8th. Bank of America reaffirmed an underperform rating and issued a $4.50 target price (down previously from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd. Finally, Barclays dropped their price target on shares of FIGS from $7.00 to $5.00 and set an equal weight rating for the company in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, FIGS has an average rating of Hold and an average price target of $4.94.

FIGS Stock Down 2.7 %

Shares of FIGS stock opened at $5.04 on Friday. FIGS has a 12-month low of $4.37 and a 12-month high of $8.84. The stock has a market capitalization of $856.35 million, a P/E ratio of 45.82, a price-to-earnings-growth ratio of 19.95 and a beta of 1.41. The company has a 50-day simple moving average of $5.06 and a 200 day simple moving average of $5.97.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $144.90 million during the quarter, compared to analyst estimates of $149.09 million. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. On average, equities analysts anticipate that FIGS will post 0.05 earnings per share for the current year.

Insider Activity

In other news, CFO Daniella Turenshine sold 4,201 shares of FIGS stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $6.00, for a total transaction of $25,206.00. Following the transaction, the chief financial officer now directly owns 425,620 shares of the company’s stock, valued at $2,553,720. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other FIGS news, insider Heather L. Hasson sold 27,547 shares of FIGS stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total value of $163,353.71. Following the transaction, the insider now owns 499,308 shares of the company’s stock, valued at $2,960,896.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniella Turenshine sold 4,201 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $6.00, for a total transaction of $25,206.00. Following the sale, the chief financial officer now directly owns 425,620 shares of the company’s stock, valued at approximately $2,553,720. The disclosure for this sale can be found here. Insiders sold a total of 49,334 shares of company stock valued at $285,986 in the last ninety days. 22.30% of the stock is owned by insiders.

Hedge Funds Weigh In On FIGS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIGS. Banque Cantonale Vaudoise boosted its position in shares of FIGS by 50.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares during the period. Octavia Wealth Advisors LLC acquired a new position in FIGS during the 4th quarter worth approximately $75,000. International Assets Investment Management LLC bought a new position in shares of FIGS during the 4th quarter worth approximately $76,000. Janney Montgomery Scott LLC acquired a new stake in shares of FIGS in the third quarter valued at approximately $78,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of FIGS in the fourth quarter worth $90,000. 92.21% of the stock is 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.