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

Key Points

• FIGS has an average analyst rating of “Moderate Buy” from 11 firms, with a consensus 12-month price target of about $15.93. Recent notes included multiple target increases, including Oppenheimer’s upgrade to outperform with a $22 target.
• The company’s latest quarterly results beat expectations, with EPS of $0.03 versus the $0.01 estimate and revenue of $159.9 million, up 28% year over year. FIGS also reported a net margin of 6.10% and return on equity of 9.69%.
• Insider selling and institutional buying were both notable: the CFO and chairman sold shares under pre-arranged plans, while several hedge funds and asset managers increased positions. 92.21% of FIGS shares are held by hedge funds and other institutional investors.

Shares of FIGS, Inc. (NYSE:FIGS - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven research firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $15.9286.

A number of research analysts have recently weighed in on FIGS shares. Morgan Stanley increased their target price on shares of FIGS from $8.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, April 13th. Telsey Advisory Group upped their price target on shares of FIGS to $17.00 and gave the company a "market perform" rating in a research note on Thursday, March 12th. Weiss Ratings cut shares of FIGS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. BTIG Research restated a "buy" rating and set a $20.00 price target on shares of FIGS in a research note on Friday, April 24th. Finally, Oppenheimer upgraded shares of FIGS from a "market perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research note on Friday, March 20th.

FIGS Stock Performance

Shares of FIGS stock opened at $11.07 on Tuesday. FIGS has a 52-week low of $5.58 and a 52-week high of $17.48. The company has a 50-day simple moving average of $12.81 and a two-hundred day simple moving average of $12.80. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 50.33 and a beta of 1.04.

FIGS (NYSE:FIGS - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The business had revenue of $159.90 million during the quarter, compared to the consensus estimate of $153.15 million. The firm's revenue was up 28.0% compared to the same quarter last year. On average, sell-side analysts forecast that FIGS will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other FIGS news, CFO Sarah Oughtred sold 23,597 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $14.33, for a total value of $338,145.01. Following the sale, the chief financial officer directly owned 1,129,791 shares in the company, valued at $16,189,905.03. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Heather L. Hasson sold 32,385 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $14.33, for a total transaction of $464,077.05. Following the completion of the sale, the chairman owned 1,433,807 shares in the company, valued at $20,546,454.31. This represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,189 shares of company stock worth $1,859,331 in the last three months. 27.06% of the stock is currently owned by corporate insiders.

Institutional Trading of FIGS

Institutional investors and hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its position in shares of FIGS by 167.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company's stock valued at $60,118,000 after buying an additional 2,546,905 shares in the last quarter. Marshall Wace LLP raised its position in shares of FIGS by 66.2% during the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company's stock valued at $48,824,000 after buying an additional 1,712,610 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of FIGS by 2,139.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company's stock valued at $7,374,000 after buying an additional 1,249,091 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company's stock valued at $78,602,000 after buying an additional 1,144,962 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of 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 buying an additional 897,935 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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.