FIGS (NYSE:FIGS) Stock Jumps 5.5% - Still a Buy?

Key Points

• FIGS shares rose 5.5% to about $16.65, trading above both their 50-day and 200-day moving averages, though volume was significantly below average.
• Analyst sentiment is broadly positive: six analysts rate FIGS a Buy and five rate it Hold, producing a “Moderate Buy” consensus and an average price target of $18.71.
• The latest quarter exceeded expectations, with EPS of $0.15 versus $0.07 expected and revenue of $196.6 million, up 28.8% year over year; however, the stock’s P/E ratio is elevated at 52.22.

FIGS, Inc. (NYSE:FIGS - Get Free Report) shot up 5.5% during trading on Monday. The company traded as high as $16.63 and last traded at $16.6460. Approximately 753,193 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,223,112 shares. The stock had previously closed at $15.78.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. KeyCorp increased their target price on shares of FIGS from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Telsey Advisory Group dropped their price target on shares of FIGS from $17.00 to $16.00 and set a "market perform" rating for the company in a research report on Friday, August 7th. Weiss Ratings raised shares of FIGS from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. BTIG Research upped their price objective on shares of FIGS from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Wall Street Zen raised shares of FIGS from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.71.

FIGS Stock Performance

The company's 50-day simple moving average is $13.87 and its 200 day simple moving average is $12.96. The company has a market cap of $2.86 billion, a PE ratio of 52.22 and a beta of 1.06.

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

Institutional Investors Weigh In On FIGS

Several large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in FIGS in the 2nd quarter valued at about $41,000. IFP Advisors Inc boosted its stake in shares of 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 buying an additional 2,396 shares during the period. OP Asset Management Ltd acquired a new position in shares of FIGS during the first quarter worth about $115,000. R Squared Ltd grew its position in shares of FIGS by 42.0% during the first quarter. R Squared Ltd now owns 15,009 shares of the company's stock worth $222,000 after buying an additional 4,436 shares in the last quarter. Finally, Archer Investment Corp acquired a new position in shares of FIGS during the first quarter worth about $239,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

About FIGS

FIGS, Inc NYSE: FIGS is a healthcare apparel and lifestyle company that designs and sells clothing, footwear, accessories and other products for healthcare professionals. Its product portfolio includes medical scrubs, lab coats, jackets, underscrubs, shoes, bags and related essentials designed for use in clinical and professional settings.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS built its business around modern, performance-oriented alternatives to traditional medical uniforms.

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