FIGS (NYSE:FIGS) Price Target Raised to $5.50

FIGS (NYSE:FIGS) had its price target increased by investment analysts at The Goldman Sachs Group from $5.00 to $5.50 in a research note issued on Friday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 35.82% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Telsey Advisory Group reissued a “market perform” rating and set a $9.00 price target (up previously from $7.00) on shares of FIGS in a report on Monday. BTIG Research lifted their target price on FIGS from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings reissued a “sell (d+)” rating on shares of FIGS in a report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of FIGS in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 12th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.90.

FIGS Stock Performance

Shares of FIGS stock traded up $1.05 on Friday, reaching $8.57. 5,890,908 shares of the stock were exchanged, compared to its average volume of 2,023,386. The firm has a market cap of $1.40 billion, a PE ratio of 214.28, a P/E/G ratio of 4.86 and a beta of 1.34. The firm’s 50 day moving average is $7.26 and its 200-day moving average is $6.12. FIGS has a one year low of $3.57 and a one year high of $8.90.

FIGS (NYSE:FIGS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The business had revenue of $151.66 million for the quarter, compared to analysts’ expectations of $142.39 million. During the same period last year, the firm posted ($0.01) earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. FIGS has set its FY 2025 guidance at EPS. On average, equities research analysts expect that FIGS will post 0.01 EPS for the current fiscal year.

Insider Transactions at FIGS

In other FIGS news, CFO Sarah Oughtred sold 22,745 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $168,085.55. Following the completion of the transaction, the chief financial officer directly owned 845,345 shares in the company, valued at approximately $6,247,099.55. This represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Catherine Eva Spear sold 62,213 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $6.88, for a total value of $428,025.44. Following the transaction, the chief executive officer owned 1,907,033 shares of the company’s stock, valued at $13,120,387.04. This trade represents a 3.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 184,148 shares of company stock worth $1,295,234. Insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

Several institutional investors have recently made changes to their positions in FIGS. Teacher Retirement System of Texas bought a new position in shares of FIGS in the 1st quarter worth $66,000. Lane & Associates LLC lifted its position in shares of FIGS by 41.8% during the 1st quarter. Lane & Associates LLC now owns 21,405 shares of the company’s stock worth $98,000 after buying an additional 6,305 shares in the last quarter. Security Benefit Life Insurance Co. KS purchased a new stake in shares of FIGS during the first quarter valued at approximately $6,962,000. Victory Capital Management Inc. lifted its holdings in FIGS by 49.8% during the first quarter. Victory Capital Management Inc. now owns 143,691 shares of the company’s stock worth $660,000 after acquiring an additional 47,797 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in FIGS in the first quarter worth $4,640,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

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.