BTIG Research Forecasts Strong Price Appreciation for FIGS (NYSE:FIGS) Stock

FIGS (NYSE:FIGS) had its price objective boosted by BTIG Research from $20.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 96.73% from the stock’s previous close.

A number of other research firms also recently issued reports on FIGS. Weiss Ratings downgraded FIGS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Barclays raised their target price on FIGS from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Friday. Zacks Research cut FIGS from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. Morgan Stanley upped their price target on FIGS from $8.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, April 13th. Finally, KeyCorp restated an “overweight” rating on shares of FIGS in a research note on Friday. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, FIGS has an average rating of “Hold” and a consensus price target of $17.50.

FIGS Price Performance

Shares of FIGS stock opened at $11.18 on Friday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 50.83 and a beta of 1.03. The stock’s 50-day moving average is $10.87 and its 200 day moving average is $12.49. FIGS has a one year low of $6.07 and a one year high of $17.48.

FIGS (NYSE:FIGS) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. FIGS had a net margin of 6.10% and a return on equity of 9.69%. The firm had revenue of $159.90 million during the quarter, compared to the consensus estimate of $153.15 million. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, sell-side analysts expect that FIGS will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On FIGS

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its stake in FIGS by 9.0% during the second 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 last quarter. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 70,660 shares during the period. Marshall Wace LLP lifted its stake in FIGS by 66.2% in the fourth quarter. Marshall Wace LLP now owns 4,297,868 shares of the company’s stock worth $48,824,000 after purchasing an additional 1,712,610 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in FIGS by 167.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after purchasing an additional 2,546,905 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in FIGS by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 2,957,667 shares of the company’s stock valued at $33,608,000 after buying an additional 145,270 shares during the period. 92.21% of the stock is currently owned by institutional investors.

FIGS Company Profile

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.