FIGS (NYSE:FIGS) Reaches New 12-Month High Following Analyst Upgrade

FIGS, Inc. (NYSE:FIGS) reached a new 52-week high during mid-day trading on Thursday after BTIG Research raised their price target on the stock from $10.00 to $12.00. BTIG Research currently has a buy rating on the stock. FIGS traded as high as $10.23 and last traded at $10.0060, with a volume of 3590505 shares. The stock had previously closed at $9.64.

Several other analysts have also issued reports on FIGS. Barclays raised their price target on shares of FIGS from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Telsey Advisory Group reissued a “market perform” rating and set a $9.00 target price (up from $7.00) on shares of FIGS in a research report on Monday, November 3rd. Weiss Ratings raised FIGS from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, November 7th. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 12th. Finally, The Goldman Sachs Group lifted their price objective on FIGS from $5.00 to $5.50 and gave the stock a “sell” 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.10.

Insider Transactions at FIGS

In related news, CEO Catherine Eva Spear sold 62,213 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $6.88, for a total value of $428,025.44. Following the sale, the chief executive officer owned 1,907,033 shares of the company’s stock, valued at $13,120,387.04. The trade was a 3.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather L. Hasson sold 23,356 shares of FIGS stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $172,600.84. Following the transaction, the insider directly owned 1,274,841 shares of the company’s stock, valued at approximately $9,421,074.99. The trade was a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 118,282 shares of company stock valued at $842,076. Corporate insiders own 29.44% of the company’s stock.

Institutional Trading of FIGS

Several large investors have recently made changes to their positions in FIGS. Farther Finance Advisors LLC raised its position 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 valued at $29,000 after acquiring an additional 5,118 shares during the last quarter. Russell Investments Group Ltd. bought a new position in FIGS during the first quarter worth about $334,000. Blueshift Asset Management LLC bought a new position in FIGS during the first quarter worth about $700,000. Charles Schwab Investment Management Inc. grew its position in shares of FIGS by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,043,970 shares of the company’s stock worth $4,792,000 after buying an additional 108,788 shares during the period. Finally, Malaga Cove Capital LLC increased its stake in shares of FIGS by 57.1% in the 1st quarter. Malaga Cove Capital LLC now owns 340,438 shares of the company’s stock valued at $1,563,000 after acquiring an additional 123,769 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

The business’s 50-day moving average is $7.55 and its two-hundred day moving average is $6.34. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 92.47, a P/E/G ratio of 3.81 and a beta of 1.34.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, November 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $151.66 million during 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%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. FIGS has set its FY 2025 guidance at EPS. Analysts forecast that FIGS, Inc. will post 0.01 EPS 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.