FIGS, Inc. (NYSE:FIGS) Given Consensus Rating of “Buy” by Brokerages

FIGS, Inc. (NYSE:FIGS – Get Rating) has been assigned an average recommendation of “Buy” from the fourteen analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $26.23.

A number of equities analysts have recently commented on the stock. Bank of America lowered shares of FIGS from a “buy” rating to a “neutral” rating and dropped their price target for the company from $32.00 to $12.00 in a research report on Monday, May 16th. The Goldman Sachs Group dropped their target price on shares of FIGS from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 1st. Piper Sandler dropped their target price on shares of FIGS from $45.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 9th. Cowen boosted their target price on shares of FIGS from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 9th. Finally, Credit Suisse Group dropped their target price on shares of FIGS from $26.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, May 13th.

In other news, major shareholder Thomas Tull bought 253,637 shares of FIGS stock in a transaction dated Monday, March 21st. The shares were bought at an average price of $19.75 per share, for a total transaction of $5,009,330.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 361,972 shares of company stock worth $7,254,405 in the last 90 days.

Several large investors have recently modified their holdings of FIGS. Guggenheim Capital LLC boosted its stake in shares of FIGS by 1,267.2% in the 4th quarter. Guggenheim Capital LLC now owns 5,679,666 shares of the company’s stock valued at $156,531,000 after purchasing an additional 5,264,244 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of FIGS in the fourth quarter worth about $73,116,000. BlackRock Inc. lifted its position in shares of FIGS by 109.2% during the fourth quarter. BlackRock Inc. now owns 4,298,529 shares of the company’s stock worth $118,467,000 after purchasing an additional 2,243,324 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its stake in shares of FIGS by 621.2% during the first quarter. Grandeur Peak Global Advisors LLC now owns 1,461,418 shares of the company’s stock valued at $31,450,000 after purchasing an additional 1,258,773 shares during the last quarter. Finally, Morgan Stanley acquired a new stake in shares of FIGS in the second quarter valued at approximately $56,847,000. Institutional investors own 70.56% of the company’s stock.

NYSE FIGS opened at $8.56 on Monday. FIGS has a 12-month low of $8.14 and a 12-month high of $50.40. The stock has a market capitalization of $1.41 billion and a PE ratio of -71.33. The company has a 50 day moving average price of $15.27 and a two-hundred day moving average price of $20.17.

FIGS (NYSE:FIGS – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). FIGS had a negative net margin of 2.73% and a negative return on equity of 1.96%. The firm had revenue of $110.10 million during the quarter, compared to the consensus estimate of $117.33 million. During the same period in the prior year, the business earned $0.07 EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, analysts expect that FIGS will post 0.16 EPS for the current fiscal year.

About FIGS (Get Rating)

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.

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