FIGS (NYSE:FIGS) Price Target Raised to $12.00 at BTIG Research

FIGS (NYSE:FIGS) had its price target raised by BTIG Research from $10.00 to $12.00 in a research report sent to investors on Thursday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on FIGS. Cowen reissued a “hold” rating on shares of FIGS in a research note on Friday, August 8th. Morgan Stanley upped their price target on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 12th. Weiss Ratings upgraded FIGS from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, November 7th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 target price (up previously from $7.00) on shares of FIGS in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, FIGS has an average rating of “Hold” and a consensus target price of $8.10.

FIGS Trading Down 1.6%

Shares of NYSE:FIGS traded down $0.15 during trading on Thursday, hitting $9.25. 2,327,114 shares of the stock were exchanged, compared to its average volume of 2,368,851. The company has a fifty day moving average price of $7.55 and a two-hundred day moving average price of $6.34. The company has a market cap of $1.52 billion, a PE ratio of 92.47, a P/E/G ratio of 3.81 and a beta of 1.34. FIGS has a 12-month low of $3.57 and a 12-month high of $10.24.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The firm had revenue of $151.66 million during the quarter, compared to the consensus estimate of $142.39 million. FIGS had a return on equity of 4.50% and a net margin of 3.03%.FIGS’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted ($0.01) EPS. FIGS has set its FY 2025 guidance at EPS. Equities research analysts anticipate that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at FIGS

In other news, CFO Sarah Oughtred sold 22,745 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total transaction of $168,085.55. Following the completion of the sale, the chief financial officer directly owned 845,345 shares of the company’s stock, valued at $6,247,099.55. The trade was a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Catherine Eva Spear sold 62,213 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $6.88, for a total value of $428,025.44. Following the completion of the transaction, the chief executive officer directly owned 1,907,033 shares in the company, 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. Insiders have sold a total of 118,282 shares of company stock worth $842,076 in the last quarter. 29.44% of the stock is owned by insiders.

Hedge Funds Weigh In On FIGS

A number of large investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of FIGS by 12,795.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,158 shares of the company’s stock worth $29,000 after purchasing an additional 5,118 shares during the period. Assetmark Inc. acquired a new position in FIGS during the third quarter valued at approximately $35,000. Capstone Financial Advisors Inc. purchased a new stake in FIGS during the second quarter worth approximately $56,000. Hudson Bay Capital Management LP acquired a new stake in shares of FIGS in the second quarter worth $61,000. Finally, Walleye Capital LLC acquired a new stake in shares of FIGS in the second quarter worth $65,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.