FIGS (NYSE:FIGS) Downgraded by Wall Street Zen to Buy

Key Points

• FIGS has been downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating, indicating a shift in investor sentiment.
• The stock's average target price is now $5.38, with a consensus rating of "Hold" from various research analysts, reflecting mixed opinions on its future performance.
• FIGS reported a quarterly earnings result of $0.04 EPS, exceeding expectations, with a revenue of $152.64 million, representing a 5.8% increase year-over-year.

FIGS (NYSE:FIGS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Friday.

FIGS has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a research note on Tuesday, July 22nd. Barclays reissued a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th. Morgan Stanley upped their target price on FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 target price (up previously from $5.00) on shares of FIGS in a research note on Monday, August 4th. Finally, Cowen reaffirmed a "hold" rating on shares of FIGS in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $5.38.

FIGS Stock Performance

FIGS traded up $0.48 during trading on Friday, reaching $7.30. The company's stock had a trading volume of 2,457,920 shares, compared to its average volume of 1,793,099. FIGS has a 52-week low of $3.57 and a 52-week high of $7.31. The company's fifty day moving average price is $6.53 and its 200-day moving average price is $5.32. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 182.42, a price-to-earnings-growth ratio of 4.37 and a beta of 1.34.

FIGS (NYSE:FIGS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The company had revenue of $152.64 million for the quarter, compared to analyst estimates of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. Equities analysts predict that FIGS will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of FIGS

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of FIGS by 12,795.0% during 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 during the last quarter. GAMMA Investing LLC increased its holdings 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 during the last quarter. Capstone Financial Advisors Inc. acquired a new stake in shares of FIGS during the 2nd quarter worth $56,000. Hudson Bay Capital Management LP acquired a new stake in shares of FIGS during the 2nd quarter worth $61,000. Finally, Stifel Financial Corp acquired a new stake in shares of FIGS during the 4th quarter worth $70,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.