FIGS (NYSE:FIGS) Sets New 12-Month High on Analyst Upgrade

FIGS, Inc. (NYSE:FIGS)’s stock price hit a new 52-week high during mid-day trading on Monday after BTIG Research raised their price target on the stock from $22.00 to $25.00. BTIG Research currently has a buy rating on the stock. FIGS traded as high as $22.46 and last traded at $21.8920, with a volume of 415,020 shares traded. The stock had previously closed at $21.31.

Several other equities analysts also recently weighed in on the stock. Oppenheimer raised their price target on shares of FIGS from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group reissued a “neutral” rating and set a $16.00 price objective on shares of FIGS in a research note on Friday, August 7th. KeyCorp lifted their price target on FIGS from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Barclays upped their price objective on shares of FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, FIGS has a consensus rating of “Moderate Buy” and a consensus price target of $19.57.

Hedge Funds Weigh In On FIGS

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new position in FIGS in the second quarter valued at $12,304,000. Jennison Associates LLC lifted its holdings in shares of FIGS by 178.4% in 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 last quarter. LGT Fund Management Co Ltd. acquired a new stake in shares of FIGS in the 1st quarter valued at about $3,961,000. KBC Group NV purchased a new position in FIGS during the 1st quarter worth approximately $3,782,000. Finally, Dimensional Fund Advisors LP raised 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. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Price Performance

The business’s 50 day simple moving average is $15.77 and its 200 day simple moving average is $13.42. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 66.26 and a beta of 1.05.

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

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.