FIGS (NYSE:FIGS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

FIGS (NYSE:FIGS) had its price objective lifted by equities research analysts at Morgan Stanley from $5.25 to $7.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 19.58% from the stock’s current price.

A number of other research firms have also weighed in on FIGS. Telsey Advisory Group reiterated a “market perform” rating and issued a $9.00 price target (up from $7.00) on shares of FIGS in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of FIGS in a research report on Thursday, November 13th. BTIG Research raised their target price on shares of FIGS from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Cowen reissued a “hold” rating on shares of FIGS in a report on Friday, August 8th. Finally, Zacks Research upgraded FIGS from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.60.

FIGS Trading Up 2.4%

FIGS stock traded up $0.22 during midday trading on Wednesday, reaching $9.33. The stock had a trading volume of 599,992 shares, compared to its average volume of 2,055,536. FIGS has a 12 month low of $3.57 and a 12 month high of $10.24. The company has a fifty day moving average price of $7.65 and a two-hundred day moving average price of $6.44. The company has a market capitalization of $1.53 billion, a P/E ratio of 92.85 and a beta of 1.34.

FIGS (NYSE:FIGS) last posted 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 for the quarter, compared to analysts’ expectations of $142.39 million. FIGS had a net margin of 3.03% and a return on equity of 4.50%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. FIGS has set its FY 2025 guidance at EPS. On average, equities research analysts predict that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FIGS news, insider Heather L. Hasson sold 23,356 shares of FIGS stock in a transaction that occurred on Tuesday, November 4th. The shares were 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 of the company’s stock, valued at $9,421,074.99. The trade was a 1.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sarah Oughtred sold 22,745 shares of the 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 transaction, the chief financial officer owned 845,345 shares of the company’s stock, valued at approximately $6,247,099.55. This trade represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 118,282 shares of company stock valued at $842,076. 29.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bamco Inc. NY lifted its holdings in shares of FIGS by 2.2% during the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock worth $338,256,000 after buying an additional 1,302,823 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of 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 buying an additional 1,144,962 shares during the last quarter. Vanguard Group Inc. grew its holdings in FIGS by 4.6% during the third quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock valued at $64,286,000 after purchasing an additional 425,189 shares during the period. Dimensional Fund Advisors LP increased its position in shares of FIGS by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,417,008 shares of the company’s stock worth $29,549,000 after acquiring an additional 70,660 shares in the last quarter. Finally, Marshall Wace LLP grew its position in FIGS by 45.7% in the third quarter. Marshall Wace LLP now owns 2,585,258 shares of the company’s stock valued at $17,295,000 after purchasing an additional 810,719 shares in the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

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.