BTIG Research Issues Positive Forecast for FIGS (NYSE:FIGS) Stock Price

Key Points

• BTIG Research raised its FIGS price target from $22 to $25 and maintained a “buy” rating, implying 17.07% upside from the prior close.
• Analyst sentiment is broadly positive: seven analysts rate FIGS a Buy and four rate it Hold, producing a consensus “Moderate Buy” rating and average price target of $19.57.
• FIGS reported quarterly revenue of $196.62 million, up 28.8% year over year, and EPS of $0.15, exceeding the $0.07 consensus estimate; institutional investors own 92.21% of the stock.

FIGS (NYSE:FIGS - Get Free Report) had its price target upped by BTIG Research from $22.00 to $25.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price objective would indicate a potential upside of 17.07% from the stock's previous close.

Several other research analysts have also issued reports on the company. Weiss Ratings upgraded FIGS from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. Wall Street Zen raised FIGS from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 10th. Telsey Advisory Group reduced their target price on FIGS from $17.00 to $16.00 and set a "market perform" rating on the stock in a report on Friday, August 7th. Oppenheimer lifted their target price on FIGS from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $16.00 price objective on shares of FIGS in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.57.

FIGS Trading Down 1.0%

NYSE:FIGS traded down $0.21 during mid-day trading on Friday, hitting $21.35. 2,734,392 shares of the company's stock traded hands, compared to its average volume of 3,317,334. FIGS has a 12 month low of $7.21 and a 12 month high of $22.31. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 64.71 and a beta of 1.06. The firm has a 50 day moving average of $15.63 and a two-hundred day moving average of $13.37.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $196.62 million for the quarter, compared to analyst estimates of $186.17 million. During the same period last year, the business posted $0.04 EPS. The business's quarterly revenue was up 28.8% on a year-over-year basis. As a group, equities research analysts expect that FIGS will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On FIGS

Several hedge funds have recently bought and sold shares of FIGS. State of Wyoming increased its position in FIGS by 6.9% during the 3rd quarter. State of Wyoming now owns 69,746 shares of the company's stock worth $967,000 after buying an additional 4,487 shares during the period. 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 valued at $44,000 after acquiring an additional 2,833 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of FIGS by 11,872.9% in the third 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. State of Alaska Department of Revenue acquired a new position in shares of FIGS in the third quarter valued at about $116,000. Finally, Sanders Morris Harris LLC bought a new position in shares of FIGS during the third quarter worth approximately $403,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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