FIGS (NYSE:FIGS) Shares Up 8% - Still a Buy?

Key Points

• FIGS, Inc. saw an 8% increase in its stock price, reaching $7.33, amid a trading volume decline of 49% compared to its average volume.
• Analysts have mixed views on FIGS, with one upgrade to a "strong-buy" rating, but the consensus rating remains "hold" with an average price target of $5.38.
• The company reported better-than-expected quarterly earnings, with a revenue increase of 5.8% year-over-year, totaling $152.64 million, and an EPS of $0.04, surpassing estimates.

FIGS, Inc. (NYSE:FIGS - Get Free Report)'s stock price traded up 8% during trading on Thursday . The stock traded as high as $7.25 and last traded at $7.33. 1,052,141 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,050,522 shares. The stock had previously closed at $6.78.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded FIGS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 20th. Cowen reaffirmed a "hold" rating on shares of FIGS in a research note on Friday, August 8th. The Goldman Sachs Group increased 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. Telsey Advisory Group reiterated a "market perform" rating and issued a $7.00 price target (up from $5.00) on shares of FIGS in a report on Monday, August 4th. Finally, Morgan Stanley lifted their price target on FIGS from $4.25 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.38.

FIGS Stock Up 7.4%

The company has a market cap of $1.19 billion, a price-to-earnings ratio of 182.15, a PEG ratio of 4.29 and a beta of 1.33. The business has a 50-day simple moving average of $6.81 and a two-hundred day simple moving average of $5.52.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $152.64 million during the quarter, compared to analysts' expectations of $144.17 million. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, equities analysts anticipate that FIGS, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at FIGS

In related news, CEO Catherine Eva Spear sold 65,866 shares of the firm's 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 sale, the chief executive officer owned 1,969,246 shares of the company's stock, valued at approximately $13,548,412.48. This trade represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sarah Oughtred sold 99,834 shares of the firm's 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 sale, the chief financial officer directly owned 878,058 shares in the company, valued at $5,435,179.02. The trade was a 10.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.44% of the company's stock.

Institutional Trading of FIGS

Several hedge funds and other institutional investors have recently modified their holdings of the company. Security Benefit Life Insurance Co. KS bought a new position in FIGS during the first quarter worth about $6,962,000. Bamco Inc. NY boosted its stake in shares of FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company's stock valued at $338,256,000 after buying an additional 1,302,823 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of FIGS by 2,139.7% in the second quarter. BNP Paribas Financial Markets now owns 1,307,468 shares of the company's stock valued at $7,374,000 after buying an additional 1,249,091 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of FIGS by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company's stock valued at $78,602,000 after buying an additional 1,144,962 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in shares of FIGS in the first quarter valued at approximately $4,640,000. Institutional investors and hedge funds own 92.21% of the company's stock.

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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