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

FIGS (NYSE:FIGS) had its price target boosted by equities researchers at Barclays from $7.00 to $9.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 3.51% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $9.00 target price (up previously from $7.00) on shares of FIGS in a research report on Monday, November 3rd. Morgan Stanley boosted their price target on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. The Goldman Sachs Group lifted their price objective on shares of FIGS from $5.00 to $5.50 and gave the company a “sell” rating in a research note on Friday. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 12th. Finally, Cowen restated a “hold” rating on shares of FIGS in a research report on Friday, August 8th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.70.

FIGS Trading Up 1.7%

NYSE:FIGS traded up $0.15 during trading hours on Monday, hitting $8.70. 1,040,470 shares of the company were exchanged, compared to its average volume of 2,018,577. FIGS has a one year low of $3.57 and a one year high of $8.90. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 86.95, a price-to-earnings-growth ratio of 3.95 and a beta of 1.34. The company has a fifty day simple moving average of $7.29 and a 200 day simple moving average of $6.18.

FIGS (NYSE:FIGS) last released its quarterly earnings results 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. FIGS had a net margin of 3.03% and a return on equity of 4.58%. The firm had revenue of $151.66 million during the quarter, compared to analyst estimates of $142.39 million. During the same quarter last year, the business earned ($0.01) EPS. The company’s revenue was up 8.2% compared to the same quarter last year. FIGS has set its FY 2025 guidance at EPS. Equities research analysts predict that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Catherine Eva Spear sold 62,213 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 1,907,033 shares of the company’s stock, valued at approximately $13,120,387.04. This represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah Oughtred sold 22,745 shares of the company’s stock in a transaction dated 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 directly owned 845,345 shares in the company, 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. In the last 90 days, insiders have sold 184,148 shares of company stock valued at $1,295,234. Corporate insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

Several institutional investors and hedge funds have recently bought and sold shares of FIGS. Farther Finance Advisors LLC increased its position in FIGS by 12,795.0% in the second quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after buying an additional 5,118 shares in the last quarter. Assetmark Inc. bought a new stake in FIGS during the 3rd quarter worth approximately $35,000. Capstone Financial Advisors Inc. purchased a new position in FIGS during the second quarter valued at approximately $56,000. Hudson Bay Capital Management LP purchased a new stake in shares of FIGS in the second quarter worth $61,000. Finally, Walleye Capital LLC bought a new stake in shares of FIGS during the 2nd quarter valued at $65,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.