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

FIGS (NYSE:FIGS) had its price objective hoisted by stock analysts at BTIG Research from $9.00 to $10.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 17.55% from the company’s current price.

Several other analysts have also recently weighed in on FIGS. Wall Street Zen upgraded FIGS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 12th. Cowen restated a “hold” rating on shares of FIGS in a research report on Friday, August 8th. Morgan Stanley raised their price objective on FIGS from $4.25 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FIGS in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 target price (up from $7.00) on shares of FIGS in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, FIGS has a consensus rating of “Hold” and an average target price of $6.70.

FIGS Price Performance

FIGS stock traded up $0.99 during mid-day trading on Friday, hitting $8.51. 2,131,942 shares of the company’s stock traded hands, compared to its average volume of 2,004,626. The firm has a 50 day simple moving average of $7.26 and a two-hundred day simple moving average of $6.12. FIGS has a fifty-two week low of $3.57 and a fifty-two week high of $8.90. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 212.93, a P/E/G ratio of 4.86 and a beta of 1.34.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. FIGS had a net margin of 1.26% and a return on equity of 1.84%. The company had revenue of $151.66 million during the quarter, compared to analysts’ expectations of $142.39 million. During the same quarter last year, the company posted ($0.01) EPS. FIGS’s quarterly revenue was up 8.2% compared to the same quarter last year. FIGS has set its FY 2025 guidance at EPS. On average, research analysts anticipate that FIGS will post 0.01 earnings per share for the current fiscal year.

Insider Activity at FIGS

In other FIGS news, CFO Sarah Oughtred sold 22,745 shares of the business’s 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 $168,085.55. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Catherine Eva Spear sold 65,866 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total transaction of $453,158.08. Following the transaction, the chief executive officer directly owned 1,969,246 shares of the company’s stock, valued at $13,548,412.48. The trade was a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,148 shares of company stock worth $1,295,234 in the last quarter. 29.44% of the stock is owned by insiders.

Hedge Funds Weigh In On FIGS

A number of hedge funds have recently added to or reduced their stakes in the stock. Bamco Inc. NY boosted its stake in FIGS by 2.2% in the second quarter. Bamco Inc. NY now owns 59,974,407 shares of the company’s stock valued at $338,256,000 after acquiring an additional 1,302,823 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in FIGS by 9.0% during the 2nd 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 in the last quarter. Vanguard Group Inc. boosted its stake in FIGS by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,609,320 shares of the company’s stock worth $64,286,000 after purchasing an additional 425,189 shares during the period. Security Benefit Life Insurance Co. KS bought a new stake in shares of FIGS during the first quarter valued at about $6,962,000. Finally, Black Creek Investment Management Inc. grew its position in FIGS by 18.9% during the second quarter. Black Creek Investment Management Inc. now owns 1,418,691 shares of the company’s stock worth $8,001,000 after buying an additional 225,696 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

FIGS Company Profile

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.