FIGS (NYSE:FIGS) Price Target Cut to $4.25 by Analysts at The Goldman Sachs Group

FIGS (NYSE:FIGS) had its price objective reduced by The Goldman Sachs Group from $4.85 to $4.25 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a sell rating on the stock.

A number of other research analysts also recently weighed in on the company. Oppenheimer downgraded FIGS from an outperform rating to a market perform rating in a report on Friday, March 8th. Bank of America reiterated an underperform rating and set a $4.50 price target (down previously from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. Telsey Advisory Group downgraded FIGS from an outperform rating to a market perform rating and lowered their target price for the company from $11.00 to $6.00 in a research note on Thursday, February 29th. Finally, Barclays lowered their target price on FIGS from $7.00 to $5.00 and set an equal weight rating on the stock in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $5.75.

FIGS Stock Up 0.7 %

Shares of NYSE FIGS opened at $4.80 on Tuesday. The stock has a market capitalization of $814.72 million, a price-to-earnings ratio of 43.59, a PEG ratio of 15.47 and a beta of 1.49. The stock’s fifty day simple moving average is $5.26 and its 200 day simple moving average is $6.05. FIGS has a 52-week low of $4.37 and a 52-week high of $8.84.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. FIGS had a return on equity of 6.72% and a net margin of 4.15%. The business had revenue of $144.90 million for the quarter, compared to the consensus estimate of $149.09 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. FIGS’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts anticipate that FIGS will post 0.06 earnings per share for the current year.

Insiders Place Their Bets

In other FIGS news, CFO Daniella Turenshine sold 4,201 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $6.00, for a total value of $25,206.00. Following the completion of the sale, the chief financial officer now owns 425,620 shares of the company’s stock, valued at $2,553,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FIGS news, insider Heather L. Hasson sold 27,547 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total value of $163,353.71. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Also, CFO Daniella Turenshine sold 4,201 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $6.00, for a total value of $25,206.00. Following the completion of 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 49,334 shares of company stock valued at $285,986 over the last quarter. Insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On FIGS

Large investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise lifted its position in shares of FIGS by 50.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock worth $30,000 after purchasing an additional 2,000 shares during the last quarter. Octavia Wealth Advisors LLC acquired a new position in shares of FIGS during the 4th quarter worth about $75,000. International Assets Investment Management LLC acquired a new position in shares of FIGS during the 4th quarter worth about $76,000. Counterpoint Mutual Funds LLC acquired a new position in shares of FIGS during the 4th quarter worth about $90,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of FIGS during the 3rd quarter worth about $78,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

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.