FIGS, Inc. (NYSE:FIGS) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate FIGS a “Moderate Buy”: Six of 11 analysts recommend buying the stock, while five rate it a hold. The average 12-month price target is $18.71, above the reported $13.36 share price.
• FIGS exceeded quarterly expectations: The company reported earnings of $0.15 per share versus the $0.07 consensus estimate and revenue of $196.62 million versus expectations of $186.17 million. Revenue increased 28.8% year over year.
• Institutional ownership remains high: Hedge funds and other institutional investors own 92.21% of FIGS, with several firms recently increasing their positions or initiating new stakes.

Shares of FIGS, Inc. (NYSE:FIGS - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.7143.

Several brokerages recently weighed in on FIGS. BTIG Research upped their target price on shares of FIGS from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Roth Capital restated a "buy" rating on shares of FIGS in a research report on Friday, August 7th. Barclays boosted their price target on shares of FIGS from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. The Goldman Sachs Group restated a "neutral" rating and issued a $16.00 target price on shares of FIGS in a report on Friday, August 7th. Finally, Telsey Advisory Group cut their price target 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.

Institutional Investors Weigh In On FIGS

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of FIGS by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company's stock worth $354,000 after purchasing an additional 3,276 shares during the last quarter. Woodline Partners LP purchased a new stake in FIGS in the 1st quarter valued at about $3,199,000. Creative Planning boosted its position in FIGS by 181.3% in the 2nd quarter. Creative Planning now owns 65,740 shares of the company's stock valued at $371,000 after buying an additional 42,367 shares during the period. Prudential Financial Inc. bought a new position in FIGS in the 2nd quarter worth about $70,000. Finally, Russell Investments Group Ltd. grew its stake in FIGS by 102.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 147,440 shares of the company's stock worth $832,000 after acquiring an additional 74,578 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Trading Up 3.1%

Shares of NYSE:FIGS opened at $13.36 on Friday. The stock has a 50 day moving average of $12.46 and a 200 day moving average of $13.13. The company has a market cap of $2.22 billion, a PE ratio of 40.47 and a beta of 1.07. FIGS has a 12-month low of $6.50 and a 12-month high of $17.48.

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

FIGS Company Profile

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing, footwear and accessories for healthcare professionals. Its product portfolio includes medical scrubs, scrub jackets, lab coats, underscrubs, outerwear, shoes, bags and other work-related accessories.

The company markets its products through its digital platform, retail locations and selected wholesale channels. FIGS emphasizes technical fabrics, comfort, functionality and contemporary styling, seeking to provide alternatives to traditional medical uniforms for nurses, physicians and other healthcare workers.

FIGS was founded in 2013 by Heather Hasson and Trina Spear and is headquartered in Santa Monica, California.

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