FIGS (NYSE:FIGS) Stock Picked Up by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of FIGS with an “overweight” rating and a $25 price target, implying about 16% upside from the current price.
• Analyst sentiment is broadly positive: FIGS has a consensus “Moderate Buy” rating and an average price target of $21.62, with eight Buy ratings and four Hold ratings.
• FIGS beat quarterly earnings and revenue estimates, reporting EPS of $0.10 versus $0.07 expected and year-over-year revenue growth of 25.7%; the stock was up 8.8% in Tuesday trading.

Cantor Fitzgerald assumed coverage on shares of FIGS (NYSE:FIGS - Get Free Report) in a report issued on Tuesday, MarketBeat reports. The firm set an "overweight" rating and a $25.00 price target on the stock. Cantor Fitzgerald's target price indicates a potential upside of 15.96% from the stock's current price.

A number of other research analysts have also commented on the company. Roth Capital reaffirmed a "buy" rating on shares of FIGS in a research report on Friday, August 7th. The Goldman Sachs Group reissued a "neutral" rating and set a $16.00 target price on shares of FIGS in a research note on Friday, August 7th. Wall Street Zen cut FIGS from a "strong-buy" rating to a "buy" rating in a research note on Saturday. KeyCorp upped their target price on FIGS from $20.00 to $27.00 and gave the company an "overweight" rating in a report on Friday. Finally, Telsey Advisory Group dropped their price target on FIGS from $17.00 to $16.00 and set a "market perform" rating for the company in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, FIGS currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.62.

FIGS Trading Up 8.8%

FIGS stock opened at $21.56 on Tuesday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 56.74 and a beta of 1.05. The firm's 50-day moving average price is $16.46 and its two-hundred day moving average price is $13.69. FIGS has a 12-month low of $8.36 and a 12-month high of $22.46.

FIGS (NYSE:FIGS - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The company had revenue of $190.69 million during the quarter, compared to analyst estimates of $182.82 million. FIGS had a net margin of 8.72% and a return on equity of 12.53%. FIGS's revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. Equities analysts predict that FIGS will post 0.34 EPS for the current year.

Insider Buying and Selling at FIGS

In related news, CEO Catherine Spear sold 4,044,284 shares of FIGS stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $19.70, for a total transaction of $79,672,394.80. Following the sale, the chief executive officer directly owned 1,671,854 shares in the company, valued at $32,935,523.80. The trade was a 70.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FIGS. Wellington Management Group LLP purchased a new position in FIGS in the 2nd quarter worth approximately $12,304,000. Jennison Associates LLC boosted its stake in FIGS by 178.4% during 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. KBC Group NV bought a new stake in shares of FIGS in the 1st quarter worth $3,782,000. Dimensional Fund Advisors LP increased its holdings in shares of FIGS by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company's stock worth $52,472,000 after purchasing an additional 257,644 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of FIGS by 190.3% in the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company's stock worth $11,668,000 after purchasing an additional 517,918 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.

About FIGS

FIGS, Inc designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics.

The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.

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