FIGS (NYSE:FIGS) Price Target Raised to $24.00

Key Points

• Barclays raised its FIGS price target from $20 to $24 while maintaining an “overweight” rating, implying 13.44% upside from the prior close.
• Analyst sentiment is broadly positive: FIGS has a consensus “Moderate Buy” rating from 11 analysts and an average price target of $20.14, with recent targets reaching $25.
• FIGS reported quarterly EPS of $0.15 versus the $0.07 consensus estimate, while revenue rose 28.8% year over year to $196.62 million; institutional investors own 92.21% of shares.

FIGS (NYSE:FIGS - Get Free Report) had its price objective lifted by stock analysts at Barclays from $20.00 to $24.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 13.44% from the stock's previous close.

FIGS has been the subject of a number of other research reports. Weiss Ratings upgraded shares of FIGS from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 27th. BTIG Research raised their price target on FIGS from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday. Roth Capital reaffirmed a "buy" rating on shares of FIGS in a report on Friday, August 7th. Telsey Advisory Group lowered their price objective on FIGS from $17.00 to $16.00 and set a "market perform" rating for the company in a research report on Friday, August 7th. Finally, Oppenheimer increased their price objective on FIGS from $22.00 to $25.00 and gave the company an "outperform" rating in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, FIGS has a consensus rating of "Moderate Buy" and a consensus price target of $20.14.

FIGS Stock Down 0.6%

Shares of NYSE:FIGS opened at $21.16 on Tuesday. The firm's 50 day moving average price is $15.90 and its 200 day moving average price is $13.46. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 64.58 and a beta of 1.06. FIGS has a fifty-two week low of $7.31 and a fifty-two week high of $22.46.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly 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. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The company had revenue of $196.62 million during the quarter, compared to analysts' expectations of $186.17 million. During the same quarter in the previous year, the business posted $0.04 EPS. The firm's revenue was up 28.8% on a year-over-year basis. On average, equities analysts anticipate that FIGS will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Alps Advisors Inc. purchased a new stake in shares of FIGS in the 3rd quarter valued at about $575,000. State of Wyoming boosted its position in shares of FIGS by 6.9% in 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. Sterling Capital Management LLC grew its stake in FIGS by 848.2% during the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company's stock worth $44,000 after buying an additional 2,833 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in FIGS by 11,872.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company's stock worth $196,000 after buying an additional 14,010 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in FIGS during the third quarter worth approximately $116,000. Institutional investors and hedge funds own 92.21% of the company's stock.

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.

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