FIGS (NYSE:FIGS) Earns Market Perform Rating from Telsey Advisory Group

Key Points

• Telsey Advisory Group has reissued a "market perform" rating for FIGS, setting a target price of $5.00, indicating a potential downside of 19.09% from the current price.
• Goldman Sachs and Morgan Stanley have adjusted their ratings and target prices for FIGS, with Goldman Sachs giving a "sell" rating and increasing the target from $3.75 to $4.50.
• Institutional investors hold a dominant 92.21% of FIGS stock, with significant recent increases in holdings from Ameriprise Financial and several others.

FIGS (NYSE:FIGS - Get Free Report)'s stock had its "market perform" rating reissued by investment analysts at Telsey Advisory Group in a report issued on Monday,Benzinga reports. They currently have a $5.00 target price on the stock. Telsey Advisory Group's price target suggests a potential downside of 19.09% from the stock's current price.

A number of other research analysts have also recently commented on FIGS. The Goldman Sachs Group upped their target price on shares of FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a research report on Tuesday, July 22nd. Barclays reaffirmed a "positive" rating on shares of FIGS in a research report on Tuesday, May 13th. Finally, Morgan Stanley lifted their target price on FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st.

FIGS Price Performance

NYSE FIGS opened at $6.18 on Monday. The firm's 50-day moving average is $5.59 and its two-hundred day moving average is $5.07. FIGS has a 12 month low of $3.57 and a 12 month high of $7.05. The stock has a market capitalization of $1.00 billion, a P/E ratio of 618.62 and a beta of 1.34.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FIGS. Ameriprise Financial Inc. grew its holdings in shares of FIGS by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 12,188,166 shares of the company's stock valued at $75,445,000 after purchasing an additional 3,352,846 shares in the last quarter. Security Benefit Life Insurance Co. KS acquired a new stake in FIGS in the 1st quarter valued at about $6,962,000. Pacer Advisors Inc. acquired a new stake in FIGS in the 1st quarter valued at about $4,640,000. Dimensional Fund Advisors LP raised its position in FIGS by 23.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company's stock valued at $26,931,000 after purchasing an additional 827,149 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in FIGS in the 1st quarter valued at about $3,727,000. Institutional investors and hedge funds own 92.21% of the company's stock.

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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