FIGS, Inc. (NYSE:FIGS) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• FIGS, Inc. has received an average brokerage recommendation of "Hold," with one analyst rating it a sell, three a hold, and one a buy.
• The company recently reported quarterly earnings of $0.04 EPS, surpassing analysts' expectations of $0.02 and achieving a revenue of $152.64 million, which is 5.8% higher year-over-year.
• Significant insider transactions included CFO Sarah Oughtred and CEO Catherine Eva Spear selling shares, indicating potential changes in executive confidence or strategy.

Shares of FIGS, Inc. (NYSE:FIGS - Get Free Report) have earned an average recommendation of "Hold" from the five analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $5.3750.

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of FIGS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 20th. Telsey Advisory Group reiterated a "market perform" rating and issued a $7.00 price target (up from $5.00) on shares of FIGS in a research report on Monday, August 4th. Morgan Stanley increased their price target on shares of FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. The Goldman Sachs Group upped their price objective on shares of FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a research note on Tuesday, July 22nd. Finally, Cowen reissued a "hold" rating on shares of FIGS in a research note on Friday, August 8th.

FIGS Stock Performance

Shares of NYSE:FIGS opened at $6.58 on Friday. The company has a 50-day simple moving average of $6.79 and a 200-day simple moving average of $5.48. FIGS has a one year low of $3.57 and a one year high of $7.54. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 164.54, a PEG ratio of 4.23 and a beta of 1.34.

FIGS (NYSE:FIGS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The business had revenue of $152.64 million during the quarter, compared to analysts' expectations of $144.17 million. During the same period in the prior year, the company earned $0.01 earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that FIGS will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sarah Oughtred sold 99,834 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $6.19, for a total value of $617,972.46. Following the transaction, the chief financial officer owned 878,058 shares of the company's stock, valued at approximately $5,435,179.02. This trade represents a 10.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Catherine Eva Spear sold 65,866 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total transaction of $453,158.08. Following the sale, the chief executive officer directly owned 1,969,246 shares of the company's stock, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.44% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its position in FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company's stock valued at $29,000 after purchasing an additional 5,118 shares during the last quarter. GAMMA Investing LLC raised its position in shares of FIGS by 585.8% during the 1st quarter. GAMMA Investing LLC now owns 6,536 shares of the company's stock worth $30,000 after buying an additional 5,583 shares in the last quarter. Capstone Financial Advisors Inc. bought a new stake in shares of FIGS during the 2nd quarter worth about $56,000. Hudson Bay Capital Management LP acquired a new position in shares of FIGS in the 2nd quarter worth approximately $61,000. Finally, Walleye Capital LLC acquired a new position in shares of FIGS in the 2nd quarter worth approximately $65,000. 92.21% of the stock is currently owned by institutional investors.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.

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