FIGS (NYSE:FIGS) Rating Increased to Outperform at Oppenheimer

FIGS (NYSE:FIGS) was upgraded by analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $22.00 price target on the stock. Oppenheimer’s price target indicates a potential upside of 54.88% from the company’s previous close.

FIGS has been the subject of a number of other research reports. The Goldman Sachs Group upgraded shares of FIGS from a “strong sell” rating to a “hold” rating in a research report on Friday, February 27th. BTIG Research reissued a “buy” rating and issued a $15.00 price target on shares of FIGS in a research report on Friday, February 27th. Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FIGS in a report on Monday, December 29th. Finally, KeyCorp upgraded shares of FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.93.

FIGS Price Performance

Shares of FIGS opened at $14.21 on Friday. The firm has a market cap of $2.34 billion, a PE ratio of 74.77 and a beta of 1.22. The stock’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $10.20. FIGS has a 1 year low of $3.57 and a 1 year high of $17.48.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $165.33 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s quarterly revenue was up 33.0% compared to the same quarter last year. Sell-side analysts anticipate that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at FIGS

In related news, CFO Sarah Oughtred sold 22,690 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $10.56, for a total transaction of $239,606.40. Following the sale, the chief financial officer owned 821,500 shares of the company’s stock, valued at approximately $8,675,040. This represents a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Heather L. Hasson sold 556,327 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the sale, the insider directly owned 1,251,967 shares in the company, valued at $21,095,643.95. This trade represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 662,140 shares of company stock valued at $10,542,161. 29.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FourThought Financial Partners LLC raised its position in shares of FIGS by 3.6% in the fourth quarter. FourThought Financial Partners LLC now owns 32,851 shares of the company’s stock worth $373,000 after buying an additional 1,138 shares in the last quarter. GSA Capital Partners LLP grew its position in FIGS by 4.2% during the third quarter. GSA Capital Partners LLP now owns 52,045 shares of the company’s stock worth $348,000 after buying an additional 2,083 shares in the last quarter. Corient Private Wealth LLC increased 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 acquiring an additional 2,612 shares during the last quarter. Creative Planning increased its stake in FIGS by 4.9% in the 3rd quarter. Creative Planning now owns 68,932 shares of the company’s stock worth $461,000 after acquiring an additional 3,192 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 acquiring an additional 3,276 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.