FIGS (NYSE:FIGS) Given New $12.00 Price Target at BTIG Research

FIGS (NYSE:FIGS) had its target price boosted by BTIG Research from $10.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 23.52% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Weiss Ratings upgraded shares of FIGS from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, November 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $9.00 target price (up from $7.00) on shares of FIGS in a research report on Monday, November 3rd. The Goldman Sachs Group raised their price target on FIGS from $5.00 to $5.50 and gave the company a “sell” rating in a research report on Friday, November 7th. Barclays raised their price objective on FIGS from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Zacks Research upgraded FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.10.

FIGS Price Performance

Shares of FIGS traded down $0.31 during midday trading on Thursday, hitting $9.72. 1,092,428 shares of the company traded hands, compared to its average volume of 2,039,223. FIGS has a one year low of $3.57 and a one year high of $10.24. The firm has a market cap of $1.59 billion, a P/E ratio of 96.65, a PEG ratio of 3.90 and a beta of 1.34. The stock has a 50-day moving average of $7.46 and a 200-day moving average of $6.28.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $151.66 million during the quarter, compared to analysts’ expectations of $142.39 million. FIGS had a net margin of 3.03% and a return on equity of 4.50%. FIGS’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. FIGS has set its FY 2025 guidance at EPS. Sell-side analysts forecast that FIGS will post 0.01 EPS for the current fiscal year.

Insider Activity at FIGS

In other news, insider Heather L. Hasson sold 23,356 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total transaction of $172,600.84. Following the sale, the insider owned 1,274,841 shares of the company’s stock, valued at $9,421,074.99. This trade represents a 1.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sarah Oughtred sold 22,745 shares of FIGS stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $168,085.55. Following the completion of the sale, the chief financial officer owned 845,345 shares of the company’s stock, valued at $6,247,099.55. This represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 118,282 shares of company stock valued at $842,076 over the last ninety days. Insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIGS. Bamco Inc. NY grew its stake in shares of FIGS by 2.2% during the 2nd quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after purchasing an additional 1,302,823 shares during the period. BNP Paribas Financial Markets raised its position in FIGS by 2,139.7% in the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company’s stock worth $7,374,000 after acquiring an additional 1,249,091 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after acquiring an additional 1,144,962 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of FIGS during the 1st quarter valued at $4,640,000. Finally, Squarepoint Ops LLC raised its holdings in FIGS by 940.7% in the 2nd quarter. Squarepoint Ops LLC now owns 924,092 shares of the company’s stock worth $5,212,000 after purchasing an additional 835,300 shares during the period. Hedge funds and other 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.