Brokerages Set FIGS, Inc. (NYSE:FIGS) Price Target at $9.20

Shares of FIGS, Inc. (NYSE:FIGS) have earned a consensus rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $9.60.

A number of brokerages have issued reports on FIGS. Zacks Research raised shares of FIGS from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Wolfe Research raised FIGS to a “buy” rating in a research note on Wednesday, December 10th. Barclays raised their price target on FIGS from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday. BTIG Research lifted their price objective on FIGS from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen lowered FIGS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th.

FIGS Trading Down 1.8%

Shares of NYSE:FIGS opened at $11.77 on Tuesday. The stock has a market capitalization of $1.94 billion, a P/E ratio of 117.70 and a beta of 1.30. FIGS has a 1-year low of $3.57 and a 1-year high of $12.35. The business has a 50-day moving average price of $10.48 and a two-hundred day moving average price of $8.05.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $151.66 million for the quarter, compared to analyst estimates of $142.39 million. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. As a group, equities analysts predict that FIGS will post 0.01 EPS for the current year.

Insider Activity at FIGS

In other FIGS news, CEO Catherine Eva Spear sold 49,734 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the completion of the sale, the chief executive officer owned 1,857,299 shares of the company’s stock, valued at approximately $21,136,062.62. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather L. Hasson sold 23,356 shares of FIGS stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $7.39, for a total transaction of $172,600.84. Following the transaction, the insider directly owned 1,274,841 shares in the company, valued at approximately $9,421,074.99. This represents a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 106,350 shares of company stock worth $1,027,582 in the last ninety days. Company insiders own 29.44% of the company’s stock.

Institutional Trading of FIGS

Several hedge funds have recently added to or reduced their stakes in FIGS. Vident Advisory LLC lifted its holdings in FIGS by 298.6% during the first quarter. Vident Advisory LLC now owns 65,010 shares of the company’s stock worth $298,000 after acquiring an additional 48,701 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of FIGS during the 1st quarter valued at about $3,727,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of FIGS by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,219 shares of the company’s stock valued at $354,000 after purchasing an additional 3,276 shares in the last quarter. Woodline Partners LP acquired a new position in shares of FIGS in the 1st quarter valued at approximately $3,199,000. Finally, Strs Ohio bought a new stake in FIGS during the 1st quarter worth approximately $460,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

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.