FIGS (NYSE:FIGS) Price Target Raised to $15.00

FIGS (NYSE:FIGS) had its price target hoisted by Morgan Stanley from $8.00 to $15.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

FIGS has been the topic of several other reports. KeyCorp raised FIGS from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research note on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of FIGS in a report on Friday, April 10th. Oppenheimer upgraded FIGS from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, March 20th. BTIG Research reiterated a “buy” rating and set a $15.00 target price on shares of FIGS in a report on Friday, February 27th. Finally, Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.93.

FIGS Price Performance

FIGS opened at $15.42 on Monday. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 81.14 and a beta of 1.20. The business has a 50-day moving average of $13.71 and a two-hundred day moving average of $11.24. FIGS has a 12 month low of $3.77 and a 12 month high of $17.48.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $165.33 million. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The firm’s revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. Equities research analysts anticipate that FIGS will post 0.01 earnings per share for the current year.

Insider Transactions at FIGS

In other news, insider Heather L. Hasson sold 556,327 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $16.85, for a total transaction of $9,374,109.95. Following the sale, the insider directly owned 1,251,967 shares in the company, valued at approximately $21,095,643.95. This represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah Oughtred sold 10,872 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $14.44, for a total value of $156,991.68. Following the sale, the chief financial officer owned 1,153,388 shares in the company, valued at $16,654,922.72. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 675,098 shares of company stock worth $10,912,375. 29.44% of the stock is currently owned by company insiders.

Institutional Trading of FIGS

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its position in shares of FIGS by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,936,468 shares of the company’s stock worth $78,602,000 after purchasing an additional 1,144,962 shares during the period. Vanguard Group Inc. grew its holdings in FIGS by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after buying an additional 425,189 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in FIGS by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock worth $29,549,000 after buying an additional 70,660 shares in the last quarter. Marshall Wace LLP grew its holdings in FIGS by 66.2% in the 4th quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after buying an additional 1,712,610 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in FIGS by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company’s stock worth $33,608,000 after buying an additional 145,270 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.

About FIGS

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.