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

Key Points

• FIGS, Inc. has received a consensus recommendation of "Hold" from analysts, with two sell ratings, three holds, and two buy ratings contributing to this outlook.
• The average twelve-month price target set by analysts for FIGS is $6.10, with recent price adjustments reflecting differing views among firms regarding the stock's potential.
• In recent transactions, insiders, including CEO Catherine Eva Spear and CFO Sarah Oughtred, sold significant shares of FIGS, indicating a 3.16% and 1.14% decrease in their holdings, respectively.

FIGS, Inc. (NYSE:FIGS - Get Free Report) has been given a consensus recommendation of "Hold" by the seven analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $6.10.

FIGS has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Cowen reaffirmed a "hold" rating on shares of FIGS in a research note on Friday, August 8th. BTIG Research initiated coverage on shares of FIGS in a research note on Tuesday, October 14th. They set a "buy" rating and a $9.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of FIGS from a "buy" rating to a "strong-buy" rating in a research note on Sunday, October 12th.

FIGS Stock Performance

Shares of FIGS opened at $8.02 on Thursday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 200.43, a P/E/G ratio of 5.24 and a beta of 1.33. The company's fifty day moving average is $7.09 and its two-hundred day moving average is $5.81. FIGS has a 1 year low of $3.57 and a 1 year high of $8.24.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $144.17 million. During the same period in the prior year, the company posted $0.01 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts predict that FIGS will post 0.01 EPS for the current year.

Insider Activity

In related news, CEO Catherine Eva Spear sold 62,213 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $6.88, for a total value of $428,025.44. Following the sale, the chief executive officer directly owned 1,907,033 shares in the company, valued at $13,120,387.04. The trade was a 3.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Oughtred sold 9,968 shares of the business's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $7.36, for a total transaction of $73,364.48. Following the completion of the sale, the chief financial officer owned 868,090 shares in the company, valued at $6,389,142.40. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 237,881 shares of company stock worth $1,572,520 over the last quarter. Insiders own 29.44% of the company's stock.

Institutional Investors Weigh In On FIGS

Several institutional investors and hedge funds have recently made changes to their positions in FIGS. Farther Finance Advisors LLC boosted its position in shares of FIGS by 12,795.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company's stock worth $29,000 after buying an additional 5,118 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of FIGS by 585.8% in 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. purchased a new stake in shares of FIGS in the 2nd quarter worth about $56,000. Hudson Bay Capital Management LP purchased a new stake in shares of FIGS in the 2nd quarter worth about $61,000. Finally, Walleye Capital LLC purchased a new position in FIGS in the 2nd quarter valued at about $65,000. 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 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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