FIGS (NYSE:FIGS) Reaches New 1-Year High - What's Next?

Key Points

• FIGS, Inc. shares reached a new 52-week high of $7.43, with analysts currently rating the stock primarily as a "Hold" with a consensus target price of $5.38.
• The company reported earnings of $0.04 per share for the last quarter, exceeding estimates and indicating a year-over-year revenue increase of 5.8% to $152.64 million.
• Insider trading activity includes CEO Catherine Eva Spear selling over 65,000 shares, reflecting a decrease in her ownership position by 3.24%.

FIGS, Inc. (NYSE:FIGS - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $7.43 and last traded at $7.33, with a volume of 1266499 shares. The stock had previously closed at $7.34.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FIGS. Morgan Stanley raised their price target on shares of FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Cowen reaffirmed a "hold" rating on shares of FIGS in a report on Friday, August 8th. The Goldman Sachs Group raised their price target on shares of FIGS from $3.75 to $4.50 and gave the stock a "sell" rating in a report on Tuesday, July 22nd. Wall Street Zen cut shares of FIGS from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 price target (up previously from $5.00) on shares of FIGS in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, FIGS presently has a consensus rating of "Hold" and a consensus target price of $5.38.

FIGS Stock Up 2.1%

The company's 50-day moving average price is $6.68 and its 200-day moving average price is $5.39. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 186.05, a price-to-earnings-growth ratio of 4.67 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $144.17 million. During the same quarter last year, the business earned $0.01 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts predict that FIGS, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Sarah Oughtred sold 99,834 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $6.19, for a total transaction 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. The trade was a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Catherine Eva Spear sold 65,866 shares of the business's stock in a transaction dated 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 in the company, valued at $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. 29.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On FIGS

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

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.