FIGS (NYSE:FIGS) Sets New 12-Month High - Time to Buy?

Key Points

• FIGS, Inc. reached a new 52-week high of $7.05 during trading, closing at $6.98 with substantial trading volume of 2,339,999 shares.
• Several analysts have issued positive ratings on FIGS, with Telsey Advisory Group raising its price target from $5.00 to $7.00, while Wall Street Zen upgraded shares to a "strong-buy" rating.
• The company reported quarterly earnings of $0.04 per share, surpassing estimates and achieving a revenue of $152.64 million, reflecting a 5.8% year-over-year increase.

FIGS, Inc. (NYSE:FIGS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.05 and last traded at $6.98, with a volume of 2339999 shares changing hands. The stock had previously closed at $6.63.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FIGS shares. Barclays reiterated a "positive" rating on shares of FIGS in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of FIGS from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 price objective (up from $5.00) on shares of FIGS in a report on Monday, August 4th. Morgan Stanley upped their price objective on shares of FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Finally, Cowen reissued a "hold" rating on shares of FIGS in a report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $5.38.

FIGS Stock Up 5.0%

The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 174.04, a PEG ratio of 4.52 and a beta of 1.34. The business's 50-day simple moving average is $5.86 and its two-hundred day simple moving average is $5.09.

FIGS (NYSE:FIGS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) 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 company had revenue of $152.64 million during the quarter, compared to the consensus estimate of $144.17 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In related news, CFO Sarah Oughtred sold 99,834 shares of the company'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 completion of the sale, the chief financial officer owned 878,058 shares in the company, valued at $5,435,179.02. This represents a 10.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 29.44% of the company's stock.

Hedge Funds Weigh In On FIGS

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in shares of FIGS by 298.7% during the 4th quarter. Wells Fargo & Company MN now owns 969,271 shares of the company's stock worth $6,000,000 after purchasing an additional 726,169 shares during the period. Invesco Ltd. grew its stake in shares of FIGS by 2.7% during the 4th quarter. Invesco Ltd. now owns 145,734 shares of the company's stock worth $902,000 after purchasing an additional 3,879 shares during the period. Legal & General Group Plc grew its stake in shares of FIGS by 5.4% during the 4th quarter. Legal & General Group Plc now owns 126,338 shares of the company's stock worth $782,000 after purchasing an additional 6,416 shares during the period. XTX Topco Ltd acquired a new position in shares of FIGS during the 4th quarter worth $180,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of FIGS by 23.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,350,572 shares of the company's stock worth $26,931,000 after purchasing an additional 827,149 shares during the period. 92.21% of the stock is 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.

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