Analysts Set FIGS, Inc. (NYSE:FIGS) Target Price at $5.38

FIGS, Inc. (NYSE:FIGS) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.3750.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Cowen restated a “hold” rating on shares of FIGS in a report on Friday, August 8th. Telsey Advisory Group restated a “market perform” rating and set a $7.00 price objective (up previously from $5.00) on shares of FIGS in a report on Monday, August 4th. Barclays restated a “positive” rating on shares of FIGS in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group lifted their price target on shares of FIGS from $3.75 to $4.50 and gave the company a “sell” rating in a research report on Tuesday, July 22nd.

Insider Buying and Selling

In other news, CEO Catherine Eva Spear sold 65,866 shares of FIGS stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value of $453,158.08. Following the completion of the sale, the chief executive officer directly owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah Oughtred sold 99,834 shares of FIGS stock in a transaction that occurred on 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 sale, the chief financial officer owned 878,058 shares of the company’s stock, 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. 29.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FIGS

A number of hedge funds and other institutional investors have recently made changes to their positions in FIGS. Dimensional Fund Advisors LP raised its position in shares of FIGS by 23.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company’s stock valued at $26,931,000 after buying an additional 827,149 shares in the last quarter. MetLife Investment Management LLC raised its position in FIGS by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 78,952 shares of the company’s stock valued at $489,000 after purchasing an additional 2,355 shares in the last quarter. Stifel Financial Corp acquired a new position in FIGS during the fourth quarter valued at approximately $70,000. Price T Rowe Associates Inc. MD raised its position in FIGS by 13.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 78,755 shares of the company’s stock valued at $488,000 after purchasing an additional 9,459 shares in the last quarter. Finally, Northern Trust Corp raised its position in FIGS by 5.8% during the fourth quarter. Northern Trust Corp now owns 1,273,290 shares of the company’s stock valued at $7,882,000 after purchasing an additional 69,522 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

FIGS Stock Up 1.1%

Shares of NYSE:FIGS opened at $6.91 on Wednesday. FIGS has a 12-month low of $3.57 and a 12-month high of $7.31. The stock has a market cap of $1.13 billion, a PE ratio of 172.67, a P/E/G ratio of 4.38 and a beta of 1.34. The business has a 50 day moving average of $6.44 and a 200-day moving average of $5.28.

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, topping analysts’ consensus estimates of $0.02 by $0.02. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The company had revenue of $152.64 million during the quarter, compared to analysts’ expectations of $144.17 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that FIGS will post 0.01 earnings per share for the current year.

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.