FIGS (NYSE:FIGS) Stock Gets Price Target Boost from BTIG Research

FIGS (NYSE:FIGS) had its price target lifted by investment analysts at BTIG Research from $22.00 to $25.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price target would indicate a potential upside of 17.07% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on FIGS. Barclays boosted their price objective on FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Oppenheimer upped their price objective on FIGS from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday. Wall Street Zen raised FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Weiss Ratings upgraded FIGS from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Finally, Roth Capital reiterated a “buy” rating on shares of FIGS in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, FIGS presently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

FIGS Stock Performance

FIGS stock traded down $0.21 during mid-day trading on Friday, reaching $21.35. The stock had a trading volume of 2,734,392 shares, compared to its average volume of 3,317,334. FIGS has a fifty-two week low of $7.21 and a fifty-two week high of $22.31. The firm has a market capitalization of $3.55 billion, a PE ratio of 64.71 and a beta of 1.06. The stock’s 50-day simple moving average is $15.63 and its 200-day simple moving average is $13.37.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.07 by $0.08. The company had revenue of $196.62 million during the quarter, compared to the consensus estimate of $186.17 million. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, research analysts forecast that FIGS will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FIGS

Hedge funds have recently bought and sold shares of the business. IFP Advisors Inc raised its stake in FIGS by 120.2% during the 2nd quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock valued at $45,000 after buying an additional 2,396 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of FIGS by 848.2% in the third quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock worth $44,000 after purchasing an additional 2,833 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of FIGS in the second quarter worth $41,000. R Squared Ltd increased its stake in shares of FIGS by 42.0% in the first quarter. R Squared Ltd now owns 15,009 shares of the company’s stock worth $222,000 after purchasing an additional 4,436 shares in the last quarter. Finally, State of Wyoming raised its position in shares of FIGS by 6.9% during the 3rd quarter. State of Wyoming now owns 69,746 shares of the company’s stock valued at $967,000 after purchasing an additional 4,487 shares during the period. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Company Profile

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.