KeyCorp Issues Positive Forecast for FIGS (NYSE:FIGS) Stock Price

FIGS (NYSE:FIGS) had its price objective increased by equities research analysts at KeyCorp from $20.00 to $27.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp‘s target price would indicate a potential upside of 36.06% from the stock’s current price.

Several other equities research analysts have also recently commented on FIGS. Telsey Advisory Group reduced their price objective on FIGS from $17.00 to $16.00 and set a “market perform” rating for the company in a report on Friday, August 7th. Oppenheimer boosted their price target on shares of FIGS from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Barclays raised their price target on FIGS from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 price objective on shares of FIGS in a research note on Friday, August 7th. Finally, BTIG Research boosted their target price on FIGS from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.14.

FIGS Price Performance

Shares of NYSE FIGS opened at $19.84 on Friday. The stock has a market capitalization of $3.30 billion, a P/E ratio of 60.13 and a beta of 1.05. FIGS has a one year low of $7.31 and a one year high of $22.46. The firm’s 50 day simple moving average is $16.24 and its two-hundred day simple moving average is $13.59.

FIGS (NYSE:FIGS) last posted its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $190.69 million for the quarter, compared to analysts’ expectations of $182.82 million. FIGS had a return on equity of 12.53% and a net margin of 8.72%. FIGS’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. As a group, equities analysts expect that FIGS will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FIGS

Several hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its position in shares of FIGS by 167.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,070,258 shares of the company’s stock worth $60,118,000 after buying an additional 2,546,905 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FIGS by 7.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,552,919 shares of the company’s stock valued at $52,472,000 after purchasing an additional 257,644 shares in the last quarter. Jennison Associates LLC increased its stake in shares of FIGS by 178.4% in the first quarter. Jennison Associates LLC now owns 1,401,214 shares of the company’s stock worth $20,696,000 after purchasing an additional 897,935 shares during the period. Wellington Management Group LLP bought a new position in FIGS during the second quarter valued at about $12,304,000. Finally, Bank of America Corp DE lifted its stake in FIGS by 190.3% during the first quarter. Bank of America Corp DE now owns 790,013 shares of the company’s stock worth $11,668,000 after purchasing an additional 517,918 shares during the period. Institutional investors and hedge funds 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.