FIGS (NYSE:FIGS) Stock Price Target Raised at KeyCorp

FIGS (NYSE:FIGS) had its price target increased by KeyCorp from $20.00 to $27.00 in a research report report published on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research firms also recently weighed in on FIGS. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 target price on shares of FIGS in a research report on Friday, August 7th. Oppenheimer increased their price target on shares of FIGS from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. BTIG Research lifted their price target on FIGS from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Barclays boosted their price objective on FIGS from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Telsey Advisory Group cut their price objective on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

FIGS Trading Down 1.2%

NYSE FIGS traded down $0.25 during mid-day trading on Friday, reaching $19.96. 7,430,912 shares of the company’s stock traded hands, compared to its average volume of 4,487,996. FIGS has a 1-year low of $8.00 and a 1-year high of $22.46. The company has a fifty day simple moving average of $16.34 and a 200-day simple moving average of $13.64. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 52.53 and a beta of 1.05.

FIGS (NYSE:FIGS) last announced its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. FIGS had a return on equity of 12.53% and a net margin of 8.72%. The company had revenue of $190.69 million for the quarter, compared to analyst estimates of $182.82 million. During the same period in the prior year, the company posted $0.05 EPS. FIGS’s quarterly revenue was up 25.7% on a year-over-year basis. Equities research analysts forecast that FIGS will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FIGS

Several large investors have recently added to or reduced their stakes in FIGS. Arrowstreet Capital Limited Partnership boosted its holdings in shares of FIGS by 167.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock valued at $60,118,000 after acquiring an additional 2,546,905 shares during the period. Dimensional Fund Advisors LP lifted its position in FIGS by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock valued at $52,472,000 after purchasing an additional 257,644 shares during the last quarter. Jennison Associates LLC boosted its stake in FIGS by 178.4% during the 1st quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock valued at $20,696,000 after purchasing an additional 897,935 shares during the period. Wellington Management Group LLP acquired a new position in FIGS during the 2nd quarter valued at about $12,304,000. Finally, Bank of America Corp DE boosted its stake in FIGS by 190.3% during the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock valued at $11,668,000 after purchasing an additional 517,918 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

More FIGS News

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: KeyCorp raised its price target on FIGS to $27 from $20 and reiterated an “overweight” rating. The new target implies 35.3% upside from the cited $19.96 share price. KeyCorp ratings
• Positive Sentiment: FIGS reported Q3 revenue of $190.7 million, up 25.7% year over year and above the $182.8 million analyst estimate. Earnings of $0.10 per share also beat the $0.07 consensus and doubled the year-ago $0.05. Q3 earnings report
• Positive Sentiment: Management also provided optimistic revenue guidance for the next quarter, adding to the upbeat earnings report. Q3 sales and guidance article
• Negative Sentiment: A recent analysis described FIGS as “priced for perfection” after a substantial run-up, suggesting high expectations could limit further gains or magnify a disappointment. Valuation analysis

About FIGS

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.