FIGS, Inc. (NYSE:FIGS) Stock Has Consensus Price Target of $19.57

Key Points

• Analysts have a “Moderate Buy” consensus on FIGS, with seven buy ratings and four holds. The average 12-month price target is $19.57, below the referenced share price of $21.35.
• Recent analyst actions were mixed but included bullish target increases: BTIG Research and Oppenheimer raised their targets to $25, while Telsey Advisory Group lowered its target to $16 and Goldman Sachs maintained a neutral rating with a $16 target.
• FIGS recently exceeded quarterly expectations, reporting adjusted EPS of $0.15 versus a $0.07 consensus and revenue of $196.62 million versus $186.17 million expected. Revenue increased 28.8% year over year, and institutional investors and hedge funds own 92.21% of the stock.

Shares of FIGS, Inc. (NYSE:FIGS - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.57.

FIGS has been the subject of several recent analyst reports. Roth Capital restated a "buy" rating on shares of FIGS in a research report on Friday, August 7th. Telsey Advisory Group cut their target price on shares of FIGS from $17.00 to $16.00 and set a "market perform" rating for the company in a research report on Friday, August 7th. Weiss Ratings upgraded shares of FIGS from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 27th. BTIG Research upped their price target on shares of FIGS from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $16.00 price target on shares of FIGS in a research report on Friday, August 7th.

Trending Headlines about FIGS

Here are the key news stories impacting FIGS this week:

• Positive Sentiment: BTIG Research raised its price target on FIGS from $22 to $25 and assigned a “Buy” rating. The new target implies approximately 17% upside from the referenced $21.35 share price, providing a positive catalyst for investor sentiment. BTIG Research stock recommendations
• Positive Sentiment: Oppenheimer also lifted its FIGS price target to $25 ahead of earnings. The upgrade helped drive a recent rally and reinforces the view that the apparel company may deliver results strong enough to support a higher valuation. FIGS rises on Oppenheimer price target
• Positive Sentiment: Zacks expects FIGS to have a favorable setup for an earnings beat. Its analysis cites the combination of key factors typically associated with stronger-than-expected quarterly results, though the article does not guarantee a beat or provide new company guidance. FIGS earnings expectations
• Neutral Sentiment: Several other articles discuss edible figs, recipes, nutrition, or fig pollination rather than FIGS, Inc. and therefore have no direct relevance to the stock.

FIGS Stock Down 1.0%

Shares of FIGS stock opened at $21.35 on Monday. FIGS has a twelve month low of $7.21 and a twelve month high of $22.31. The business has a 50-day moving average price of $15.77 and a 200-day moving average price of $13.42. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 64.71 and a beta of 1.05.

FIGS (NYSE:FIGS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.08. The company had revenue of $196.62 million during 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%. FIGS's revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 earnings per share. On average, equities analysts expect that FIGS will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On FIGS

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc grew its position in FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company's stock worth $45,000 after acquiring an additional 2,396 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of FIGS by 848.2% in the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company's stock worth $44,000 after acquiring an additional 2,833 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of FIGS during the second quarter valued at approximately $41,000. R Squared Ltd raised its stake in FIGS by 42.0% during the first quarter. R Squared Ltd now owns 15,009 shares of the company's stock valued at $222,000 after buying an additional 4,436 shares during the last quarter. Finally, State of Wyoming raised its holdings in FIGS by 6.9% in the third quarter. State of Wyoming now owns 69,746 shares of the company's stock worth $967,000 after buying an additional 4,487 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Company Profile

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

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

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.