FIGS, Inc. (NYSE:FIGS) Receives $5.87 Consensus Price Target from Analysts

Shares of FIGS, Inc. (NYSE:FIGS) have earned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.87.

A number of equities research analysts recently weighed in on FIGS shares. Oppenheimer cut shares of FIGS from an “outperform” rating to a “market perform” rating in a research note on Friday, March 8th. The Goldman Sachs Group cut their price objective on shares of FIGS from $6.75 to $4.85 and set a “sell” rating on the stock in a research note on Thursday, February 29th. Barclays cut their price objective on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Bank of America restated an “underperform” rating and set a $4.50 price objective (down from $8.50) on shares of FIGS in a research note on Tuesday, April 2nd. Finally, Telsey Advisory Group cut shares of FIGS from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $11.00 to $6.00 in a research report on Thursday, February 29th.

Insiders Place Their Bets

In other FIGS news, CFO Daniella Turenshine sold 4,201 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $6.00, for a total value of $25,206.00. Following the sale, the chief financial officer now directly owns 425,620 shares in the company, valued at $2,553,720. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Heather L. Hasson sold 27,547 shares of FIGS stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total value of $163,353.71. Following the transaction, the insider now owns 499,308 shares of the company’s stock, valued at approximately $2,960,896.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniella Turenshine sold 4,201 shares of FIGS stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $6.00, for a total value of $25,206.00. Following the completion of the transaction, the chief financial officer now directly owns 425,620 shares in the company, valued at approximately $2,553,720. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,334 shares of company stock worth $285,986. 21.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FIGS

Institutional investors have recently bought and sold shares of the stock. Raymond James & Associates grew its stake in FIGS by 12.8% during the 1st quarter. Raymond James & Associates now owns 9,970 shares of the company’s stock valued at $215,000 after acquiring an additional 1,129 shares in the last quarter. Legal & General Group Plc grew its stake in FIGS by 1.6% during the 4th quarter. Legal & General Group Plc now owns 94,309 shares of the company’s stock valued at $635,000 after acquiring an additional 1,460 shares in the last quarter. UBS Group AG grew its stake in FIGS by 8.6% during the 1st quarter. UBS Group AG now owns 22,506 shares of the company’s stock valued at $484,000 after acquiring an additional 1,782 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in FIGS by 50.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock valued at $30,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in FIGS by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 248,047 shares of the company’s stock valued at $5,338,000 after acquiring an additional 2,126 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Stock Performance

Shares of FIGS opened at $4.75 on Thursday. FIGS has a 1 year low of $4.37 and a 1 year high of $8.84. The company has a market cap of $806.22 million, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 15.95 and a beta of 1.49. The firm has a fifty day moving average of $5.43 and a 200-day moving average of $6.10.

FIGS (NYSE:FIGS) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The business had revenue of $144.90 million for the quarter, compared to analysts’ expectations of $149.09 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Analysts predict that FIGS will post 0.06 EPS for the current year.

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.