FIGS (NYSE:FIGS) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded FIGS to “strong-buy” from “buy.” MarketBeat’s analyst consensus remains “Moderate Buy,” with six Buy ratings, five Holds, and an average price target of $18.71.
• FIGS reported quarterly EPS of $0.15, exceeding the $0.07 consensus estimate, while revenue rose 28.8% year over year to $196.62 million, above expectations.
• Shares opened at $15.74, compared with a 52-week range of $6.77 to $17.48. Institutional investors and hedge funds own approximately 92.21% of the company.

FIGS (NYSE:FIGS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on FIGS. BTIG Research upped their price objective on shares of FIGS from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Telsey Advisory Group dropped their target price on shares of FIGS from $17.00 to $16.00 and set a "market perform" rating on the stock in a report on Friday, August 7th. KeyCorp upped their price target on shares of FIGS from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. The Goldman Sachs Group reiterated a "neutral" rating and set a $16.00 price target on shares of FIGS in a report on Friday, August 7th. Finally, Roth Capital reissued a "buy" rating on shares of FIGS in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.71.

FIGS Price Performance

FIGS stock opened at $15.74 on Friday. The stock's 50 day moving average is $13.87 and its 200 day moving average is $12.98. The firm has a market cap of $2.61 billion, a P/E ratio of 47.68 and a beta of 1.06. FIGS has a one year low of $6.77 and a one year high of $17.48.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in FIGS during the second quarter worth $41,000. IFP Advisors Inc raised its holdings in shares of FIGS by 120.2% during the second quarter. IFP Advisors Inc now owns 4,389 shares of the company's stock valued at $45,000 after purchasing an additional 2,396 shares during the period. OP Asset Management Ltd acquired a new position in shares of FIGS during the first quarter valued at about $115,000. R Squared Ltd boosted its position in shares of FIGS by 42.0% during the 1st quarter. R Squared Ltd now owns 15,009 shares of the company's stock worth $222,000 after purchasing an additional 4,436 shares in the last quarter. Finally, Archer Investment Corp bought a new position in shares of FIGS during the 1st quarter worth about $239,000. Institutional investors and hedge funds own 92.21% of the company's stock.

FIGS Company Profile

FIGS, Inc NYSE: FIGS is a healthcare apparel and lifestyle company that designs and sells clothing, footwear, accessories and other products for healthcare professionals. Its product portfolio includes medical scrubs, lab coats, jackets, underscrubs, shoes, bags and related essentials designed for use in clinical and professional settings.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS built its business around modern, performance-oriented alternatives to traditional medical uniforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.