FIGS (NYSE:FIGS) Reaches New 1-Year High - Should You Buy?

Key Points

• FIGS reached a new 52-week high, trading as high as $20.88, while its market capitalization stood at approximately $3.37 billion.
• Analyst sentiment is broadly positive, with seven Buy ratings and four Holds producing a “Moderate Buy” consensus; however, the average price target of $18.71 is below the recent trading price.
• FIGS beat quarterly expectations, reporting EPS of $0.15 versus $0.07 expected and revenue of $196.62 million, up 28.8% year over year. Institutional investors own 92.21% of the company.

Shares of FIGS, Inc. (NYSE:FIGS - Get Free Report) hit a new 52-week high during trading on Tuesday. The company traded as high as $20.88 and last traded at $20.1940, with a volume of 54,092 shares traded. The stock had previously closed at $20.83.

Analysts Set New Price Targets

FIGS has been the topic of a number of research reports. Roth Capital reaffirmed a "buy" rating on shares of FIGS in a research report on Friday, August 7th. Telsey Advisory Group decreased their price target on shares of FIGS from $17.00 to $16.00 and set a "market perform" rating on the stock in a research report on Friday, August 7th. KeyCorp boosted their price objective on shares of FIGS from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $16.00 price objective on shares of FIGS in a research report on Friday, August 7th. Finally, BTIG Research upped their price objective on shares of FIGS from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.71.

FIGS Stock Down 2.7%

The stock has a market capitalization of $3.37 billion, a P/E ratio of 61.45 and a beta of 1.06. The firm has a 50-day moving average of $15.23 and a 200 day moving average of $13.24.

FIGS (NYSE:FIGS - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.08. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The firm had revenue of $196.62 million for the quarter, compared to analyst estimates of $186.17 million. During the same quarter in the previous year, the firm posted $0.04 EPS. The business's revenue for the quarter was up 28.8% on a year-over-year basis. Analysts predict that FIGS, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of FIGS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in FIGS by 167.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company's stock worth $60,118,000 after purchasing an additional 2,546,905 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of FIGS by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company's stock valued at $52,472,000 after purchasing an additional 257,644 shares during the period. Jennison Associates LLC grew its stake in shares of FIGS by 178.4% in the 1st quarter. Jennison Associates LLC now owns 1,401,214 shares of the company's stock valued at $20,696,000 after purchasing an additional 897,935 shares during the period. Wellington Management Group LLP acquired a new position in shares of FIGS in the 2nd quarter worth approximately $12,304,000. Finally, Bank of America Corp DE raised its holdings in shares of FIGS by 190.3% in the 1st quarter. Bank of America Corp DE now owns 790,013 shares of the company's stock worth $11,668,000 after buying an additional 517,918 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

About FIGS

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.

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