Brokerages Set FIGS, Inc. (NYSE:FIGS) PT at $10.10

Shares of FIGS, Inc. (NYSE:FIGS) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.25.

Several equities analysts have recently issued reports on the stock. BTIG Research reissued a “buy” rating and issued a $15.00 price target on shares of FIGS in a report on Friday, February 27th. The Goldman Sachs Group raised FIGS from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Barclays upgraded FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Telsey Advisory Group boosted their price objective on FIGS from $9.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, February 27th.

Insider Activity

In other news, insider Heather L. Hasson sold 556,327 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the completion of the sale, the insider owned 1,251,967 shares of the company’s stock, valued at $21,095,643.95. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Catherine Eva Spear sold 49,734 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total transaction of $565,972.92. Following the completion of the sale, the chief executive officer directly owned 1,857,299 shares in the company, valued at $21,136,062.62. This represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 662,140 shares of company stock worth $10,542,161 over the last quarter. 29.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FIGS. Assetmark Inc. acquired a new stake in FIGS in the 3rd quarter valued at approximately $35,000. Elevated Capital Advisors LLC bought a new position in shares of FIGS during the 4th quarter worth approximately $45,000. Quarry LP raised its holdings in shares of FIGS by 1,876.3% in the third quarter. Quarry LP now owns 7,846 shares of the company’s stock valued at $52,000 after purchasing an additional 7,449 shares during the last quarter. Capstone Financial Advisors Inc. bought a new stake in shares of FIGS in the second quarter worth $56,000. Finally, Hudson Bay Capital Management LP acquired a new position in FIGS during the second quarter worth $61,000. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Trading Down 1.3%

Shares of FIGS opened at $16.90 on Wednesday. The stock has a market cap of $2.78 billion, a P/E ratio of 88.95 and a beta of 1.22. FIGS has a 1 year low of $3.57 and a 1 year high of $17.40. The stock’s 50-day moving average price is $11.59 and its two-hundred day moving average price is $9.53.

FIGS (NYSE:FIGS) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. FIGS had a net margin of 5.43% and a return on equity of 8.41%. The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $165.33 million. During the same period last year, the company posted $0.01 EPS. FIGS’s revenue for the quarter was up 33.0% on a year-over-year basis. As a group, equities analysts forecast that FIGS will post 0.01 EPS for the current year.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.