FIGS, Inc. (NYSE:FIGS) Stock Has Average Price Target of $19.57

FIGS, Inc. (NYSE:FIGS) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.14.

Several research firms have commented on FIGS. Telsey Advisory Group reduced their price objective on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a report on Friday, August 7th. Barclays upped their target price on FIGS from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings raised FIGS from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $16.00 price target on shares of FIGS in a research note on Friday, August 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its stake in shares of FIGS by 848.2% during the third quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock valued at $44,000 after purchasing an additional 2,833 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in FIGS during the second quarter worth $41,000. IFP Advisors Inc lifted its holdings in FIGS by 120.2% during the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after buying an additional 2,396 shares during the period. State of Alaska Department of Revenue purchased a new stake in FIGS during the third quarter worth $116,000. Finally, SBI Securities Co. Ltd. boosted its position in FIGS by 11,872.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company’s stock valued at $196,000 after acquiring an additional 14,010 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

FIGS Price Performance

Shares of FIGS stock opened at $21.88 on Monday. The company has a market capitalization of $3.63 billion, a P/E ratio of 66.30 and a beta of 1.05. The company’s 50-day simple moving average is $16.15 and its two-hundred day simple moving average is $13.55. FIGS has a one year low of $7.31 and a one year high of $22.46.

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