FIGS (NYSE:FIGS) Sets New 12-Month High on Analyst Upgrade

Key Points

• FIGS reached a new 52-week high after BTIG Research raised its price target from $22 to $25 and maintained a Buy rating; shares traded as high as $22.46.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and average price target of $19.57, though Goldman Sachs remains Neutral with a $16 target.
• FIGS reported quarterly EPS of $0.15 versus the $0.07 estimate, while revenue rose 28.8% year over year to $196.62 million; institutional investors own 92.21% of the stock.

FIGS, Inc. (NYSE:FIGS - Get Free Report) hit a new 52-week high on Monday after BTIG Research raised their price target on the stock from $22.00 to $25.00. BTIG Research currently has a buy rating on the stock. FIGS traded as high as $22.46 and last traded at $21.8920, with a volume of 415,020 shares. The stock had previously closed at $21.31.

A number of other analysts have also issued reports on FIGS. Oppenheimer boosted their price target on FIGS from $22.00 to $25.00 and gave the company an "outperform" rating in a report on Thursday. Wall Street Zen upgraded FIGS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 10th. The Goldman Sachs Group reiterated a "neutral" rating and set a $16.00 price objective on shares of FIGS in a research note on Friday, August 7th. Weiss Ratings upgraded FIGS from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 27th. Finally, Barclays upped their price objective on shares of FIGS from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.57.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. State of Wyoming boosted its holdings in FIGS by 6.9% during the third quarter. State of Wyoming now owns 69,746 shares of the company's stock worth $967,000 after buying an additional 4,487 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of FIGS by 848.2% during the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company's stock valued at $44,000 after buying an additional 2,833 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in FIGS by 11,872.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company's stock valued at $196,000 after acquiring an additional 14,010 shares during the period. State of Alaska Department of Revenue acquired a new stake in FIGS in the 3rd quarter valued at $116,000. Finally, Sanders Morris Harris LLC purchased a new stake in FIGS in the 3rd quarter worth $403,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

FIGS Stock Up 2.9%

The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 66.26 and a beta of 1.05. The stock's 50-day simple moving average is $15.77 and its two-hundred day simple moving average is $13.42.

FIGS (NYSE:FIGS - Get Free Report) last announced its 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 business had revenue of $196.62 million for the quarter, compared to analyst estimates of $186.17 million. During the same quarter last year, the business earned $0.04 earnings per share. The company's revenue for the quarter was up 28.8% compared to the same quarter last year. On average, sell-side analysts forecast that FIGS, Inc. will post 0.32 EPS for the current year.

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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