FIGS, Inc. (NYSE:FIGS) Receives $6.10 Average Price Target from Brokerages

FIGS, Inc. (NYSE:FIGS) has received an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $6.10.

Several research analysts recently weighed in on FIGS shares. Cowen restated a “hold” rating on shares of FIGS in a report on Friday, August 8th. Weiss Ratings restated a “sell (d+)” rating on shares of FIGS in a report on Saturday. Morgan Stanley boosted their price target on shares of FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. The Goldman Sachs Group boosted their target price on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a research note on Tuesday, July 22nd. Finally, BTIG Research began coverage on shares of FIGS in a research note on Tuesday, October 14th. They issued a “buy” rating and a $9.00 target price on the stock.

FIGS Price Performance

Shares of NYSE FIGS opened at $8.24 on Thursday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 205.93, a P/E/G ratio of 5.28 and a beta of 1.33. The company has a 50-day moving average price of $7.14 and a 200-day moving average price of $5.89. FIGS has a 1 year low of $3.57 and a 1 year high of $8.42.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $152.64 million during the quarter, compared to analysts’ expectations of $144.17 million. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. As a group, equities research analysts anticipate that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 65,866 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value of $453,158.08. Following the transaction, the chief executive officer directly owned 1,969,246 shares in the company, valued at $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Oughtred sold 99,834 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $6.19, for a total transaction of $617,972.46. Following the completion of the transaction, the chief financial officer owned 878,058 shares in the company, valued at approximately $5,435,179.02. The trade was a 10.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,881 shares of company stock worth $1,572,520. Corporate insiders own 29.44% of the company’s stock.

Institutional Trading of FIGS

Hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC grew its stake in FIGS by 0.8% in the 2nd quarter. Corient Private Wealth LLC now owns 332,938 shares of the company’s stock worth $1,878,000 after buying an additional 2,612 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of FIGS by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after purchasing an additional 3,276 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock valued at $29,000 after purchasing an additional 5,118 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of FIGS by 585.8% in the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company’s stock valued at $30,000 after purchasing an additional 5,583 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in FIGS by 6.9% during the 2nd quarter. Franklin Resources Inc. now owns 94,643 shares of the company’s stock valued at $534,000 after buying an additional 6,133 shares during the period. Institutional investors own 92.21% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States 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.