FIGS (NYSE:FIGS) Price Target Raised to $24.00

FIGS (NYSE:FIGS) had its price target increased by Barclays from $20.00 to $24.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on the company. Telsey Advisory Group dropped their price target on FIGS from $17.00 to $16.00 and set a “market perform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings upgraded FIGS from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. BTIG Research boosted their price objective on FIGS from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, October 30th. KeyCorp increased their target price on FIGS from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $16.00 target price on shares of FIGS in a report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.14.

FIGS Stock Performance

Shares of NYSE FIGS opened at $19.84 on Tuesday. FIGS has a 52-week low of $7.31 and a 52-week high of $22.46. The stock has a market cap of $3.30 billion, a P/E ratio of 60.13 and a beta of 1.05. The firm has a 50 day moving average price of $16.24 and a 200 day moving average price of $13.59.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The company had revenue of $190.69 million for the quarter, compared to analyst estimates of $182.82 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. Analysts predict that FIGS will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FIGS

Institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new stake in FIGS during the third quarter worth $6,286,000. Alps Advisors Inc. bought a new position in shares of FIGS in the 3rd quarter valued at about $575,000. State of Wyoming grew its position in shares of FIGS by 6.9% in the 3rd quarter. State of Wyoming now owns 69,746 shares of the company’s stock valued at $967,000 after acquiring an additional 4,487 shares during the period. Sterling Capital Management LLC increased its stake in shares of FIGS by 848.2% during the 3rd quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock worth $44,000 after purchasing an additional 2,833 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of FIGS by 11,872.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company’s stock worth $196,000 after purchasing an additional 14,010 shares during the last quarter. Institutional investors own 92.21% of the company’s stock.

About FIGS

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing and accessories for healthcare professionals. Its product portfolio includes scrubs, underscrubs, outerwear, footwear, bags and other accessories intended to combine functionality, comfort and contemporary design.

The company sells primarily through its digital platform and also operates retail locations and other distribution channels. FIGS serves healthcare professionals in the United States and select international markets, including Canada, the United Kingdom and Australia.

FIGS was founded in 2013 by Heather Hasson and Trina Spear.