FIGS, Inc. (NYSE:FIGS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• FIGS has a “Moderate Buy” consensus among 11 analysts, with six buy ratings and five holds. The average 12-month price target is $18.71, with recent targets ranging from $20 to $22.
• Institutional investors own 92.21% of FIGS; several firms increased their holdings during the second quarter, while Wellington Management initiated a position valued at approximately $12.3 million.
• FIGS reported quarterly EPS of $0.15, exceeding the $0.07 estimate, while revenue rose 28.8% year over year to $196.62 million. Shares opened at $14.06, below the analyst consensus target.

FIGS, Inc. (NYSE:FIGS - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $18.71.

A number of analysts recently weighed in on FIGS shares. KeyCorp upped their price target on shares of FIGS from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. BTIG Research raised their price objective on FIGS from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Barclays boosted their price objective on FIGS from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings raised FIGS from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Finally, Wall Street Zen lowered FIGS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 19th.

Hedge Funds Weigh In On FIGS

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC grew its position in FIGS by 69.6% in the second quarter. Tidal Investments LLC now owns 27,467 shares of the company's stock valued at $281,000 after acquiring an additional 11,270 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of FIGS during the second quarter worth $41,000. IFP Advisors Inc boosted its stake in shares of FIGS by 120.2% in 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. Navellier & Associates Inc. boosted its position in FIGS by 118.8% in the 2nd quarter. Navellier & Associates Inc. now owns 44,128 shares of the company's stock valued at $451,000 after buying an additional 23,957 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of FIGS during the second quarter valued at about $12,304,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

FIGS Stock Down 0.3%

Shares of FIGS stock opened at $14.06 on Thursday. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 42.59 and a beta of 1.06. FIGS has a fifty-two week low of $6.77 and a fifty-two week high of $17.48. The firm's 50 day moving average price is $13.67 and its two-hundred day moving average price is $12.95.

FIGS (NYSE:FIGS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.15 earnings per share (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 analyst estimates of $186.17 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The business's quarterly revenue was up 28.8% compared to the same quarter last year. On average, equities analysts forecast that FIGS will post 0.32 EPS for the current fiscal year.

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.

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