FIGS (NYSE:FIGS) Price Target Raised to $9.00

FIGS (NYSE:FIGS) had its price objective hoisted by Barclays from $7.00 to $9.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on FIGS. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 target price (up previously from $7.00) on shares of FIGS in a report on Monday, November 3rd. BTIG Research increased their price target on FIGS from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Cowen reissued a “hold” rating on shares of FIGS in a research note on Friday, August 8th. Finally, Morgan Stanley upped their price objective on shares of FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.70.

FIGS Price Performance

Shares of FIGS stock opened at $10.01 on Monday. The firm’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $6.28. FIGS has a 12 month low of $3.57 and a 12 month high of $10.23. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 100.06, a PEG ratio of 3.90 and a beta of 1.34.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $151.66 million for the quarter, compared to the consensus estimate 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 period last year, the firm posted ($0.01) EPS. FIGS has set its FY 2025 guidance at EPS. Analysts anticipate that FIGS will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Sarah Oughtred sold 22,745 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $168,085.55. Following the sale, the chief financial officer directly owned 845,345 shares in the company, valued at $6,247,099.55. The trade was a 2.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Catherine Eva Spear sold 62,213 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total transaction of $428,025.44. Following the transaction, the chief executive officer owned 1,907,033 shares of the company’s stock, valued at $13,120,387.04. This trade represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 118,282 shares of company stock worth $842,076. 29.44% of the stock is owned by corporate insiders.

Institutional Trading of FIGS

Several institutional investors and hedge funds have recently modified their holdings of FIGS. Farther Finance Advisors LLC increased its stake in shares of FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after purchasing an additional 5,118 shares in the last quarter. Assetmark Inc. acquired a new stake in FIGS during the 3rd quarter valued at $35,000. Capstone Financial Advisors Inc. acquired a new stake in FIGS during the 2nd quarter valued at $56,000. Hudson Bay Capital Management LP purchased a new position in FIGS during the second quarter worth $61,000. Finally, Walleye Capital LLC acquired a new position in shares of FIGS in the second quarter worth $65,000. 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.