FIGS (NYSE:FIGS) Reaches New 52-Week High - Time to Buy?

Key Points

• FIGS reached a new 52-week high, trading as high as $20.44 and closing around $20.36, with a market capitalization of approximately $3.32 billion.
• Analysts maintain a generally positive outlook, with seven Buy ratings and four Holds producing a consensus “Moderate Buy” rating; however, the average price target of $18.71 is below the current share price.
• The company recently exceeded quarterly expectations, reporting $0.15 in EPS versus $0.07 expected and revenue of $196.62 million, up 28.8% year over year. Institutional investors own approximately 92.21% of the stock.

FIGS, Inc. (NYSE:FIGS - Get Free Report)'s stock price reached a new 52-week high on Wednesday. The stock traded as high as $20.44 and last traded at $20.3640, with a volume of 724,488 shares. The stock had previously closed at $19.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $16.00 price objective on shares of FIGS in a report on Friday, August 7th. KeyCorp boosted their target price on shares of FIGS from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Wall Street Zen raised shares of FIGS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 10th. BTIG Research upped their price target on shares of FIGS from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of FIGS from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 12th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, FIGS presently has a consensus rating of "Moderate Buy" and an average target price of $18.71.

FIGS Price Performance

The business has a 50-day simple moving average of $14.77 and a two-hundred day simple moving average of $13.15. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 60.61 and a beta of 1.06.

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

Hedge Funds Weigh In On FIGS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in shares of FIGS in the third quarter valued at approximately $116,000. Sanders Morris Harris LLC acquired a new stake in FIGS during the 3rd quarter worth approximately $403,000. Tidal Investments LLC lifted its holdings in FIGS by 69.6% during the 2nd quarter. Tidal Investments LLC now owns 27,467 shares of the company's stock worth $281,000 after purchasing an additional 11,270 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in FIGS in the 2nd quarter valued at $41,000. Finally, IFP Advisors Inc boosted its stake in FIGS by 120.2% in the 2nd quarter. IFP Advisors Inc now owns 4,389 shares of the company's stock valued at $45,000 after purchasing an additional 2,396 shares during the period. 92.21% of the stock is owned by institutional investors.

FIGS Company Profile

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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