BTIG Research Reaffirms Buy Rating for FIGS (NYSE:FIGS)

Key Points

• BTIG Research reaffirmed a Buy rating on FIGS with a $20 price target, implying roughly a 24% upside from the stock's prior close.
• FIGS reported a strong quarter—EPS $0.10 vs. $0.02 expected and revenue of $201.9M, up ~33% year-over-year—driving an overall consensus of a "Moderate Buy" among analysts.
• Insiders sold 675,098 shares (~$10.9M) last quarter, including transactions by the CFO and CEO, though insiders still hold about 29.44% of the company.

FIGS (NYSE:FIGS - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at BTIG Research in a report released on Friday,Benzinga reports. They presently have a $20.00 target price on the stock. BTIG Research's price objective would suggest a potential upside of 24.07% from the stock's previous close.

A number of other analysts have also issued reports on FIGS. KeyCorp raised FIGS from a "sector weight" rating to an "overweight" rating and set a $17.00 target price on the stock in a research report on Friday, February 27th. Morgan Stanley increased their price objective on FIGS from $8.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, April 13th. Wall Street Zen upgraded FIGS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 28th. Telsey Advisory Group increased their price objective on FIGS to $17.00 and gave the company a "market perform" rating in a research report on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of FIGS in a research report on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.64.

FIGS Price Performance

NYSE FIGS opened at $16.12 on Friday. FIGS has a 1-year low of $3.82 and a 1-year high of $17.48. The company has a market capitalization of $2.68 billion, a P/E ratio of 84.85 and a beta of 1.20. The business has a 50 day moving average price of $14.36 and a 200 day moving average price of $11.59.

FIGS (NYSE:FIGS - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The firm had revenue of $201.90 million for the quarter, compared to analysts' expectations of $165.33 million. During the same quarter in the prior year, the firm earned $0.01 EPS. FIGS's quarterly revenue was up 33.0% on a year-over-year basis. On average, research analysts expect that FIGS will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sarah Oughtred sold 22,690 shares of the company's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $10.56, for a total value of $239,606.40. Following the completion of the sale, the chief financial officer owned 821,500 shares in the company, valued at $8,675,040. This represents a 2.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Catherine Eva Spear sold 62,335 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $14.44, for a total transaction of $900,117.40. Following the completion of the sale, the chief executive officer owned 1,794,964 shares of the company's stock, valued at approximately $25,919,280.16. This represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 675,098 shares of company stock worth $10,912,375 in the last quarter. Insiders own 29.44% of the company's stock.

Institutional Investors Weigh In On FIGS

Several hedge funds have recently bought and sold shares of FIGS. FourThought Financial Partners LLC raised its holdings in FIGS by 3.6% in the 4th quarter. FourThought Financial Partners LLC now owns 32,851 shares of the company's stock valued at $373,000 after acquiring an additional 1,138 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of FIGS by 4.2% during the third quarter. GSA Capital Partners LLP now owns 52,045 shares of the company's stock worth $348,000 after purchasing an additional 2,083 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of FIGS by 0.8% during the second quarter. Corient Private Wealth LLC now owns 332,938 shares of the company's stock worth $1,878,000 after purchasing an additional 2,612 shares during the period. Creative Planning raised its stake in FIGS by 4.9% during the third quarter. Creative Planning now owns 68,932 shares of the company's stock worth $461,000 after buying an additional 3,192 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in FIGS by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company's stock worth $354,000 after buying an additional 3,276 shares during the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.

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