Brokerages Set FIGS, Inc. (NYSE:FIGS) Price Target at $18.71

FIGS, Inc. (NYSE:FIGS) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $18.7143.

Several brokerages recently weighed in on FIGS. KeyCorp boosted their price objective on FIGS from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Barclays increased their target price on FIGS from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.00 price target on shares of FIGS in a report on Friday, August 7th. BTIG Research upped their price target on FIGS from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Wall Street Zen lowered FIGS from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

FIGS Price Performance

Shares of FIGS stock opened at $13.09 on Friday. The firm has a market cap of $2.18 billion, a P/E ratio of 39.68 and a beta of 1.07. FIGS has a 1-year low of $6.50 and a 1-year high of $17.48. The firm has a fifty day moving average of $12.78 and a two-hundred day moving average of $13.17.

FIGS (NYSE:FIGS) last issued its earnings results on Thursday, August 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The business had revenue of $196.62 million for the quarter, compared to analyst estimates of $186.17 million. During the same quarter in the prior year, the business posted $0.04 EPS. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, sell-side analysts expect that FIGS will post 0.32 EPS for the current year.

Institutional Trading of FIGS

A number of institutional investors and hedge funds have recently modified their holdings of FIGS. Integrated Wealth Concepts LLC bought a new position in shares of FIGS in the 2nd quarter worth about $41,000. IFP Advisors Inc lifted its holdings in FIGS by 120.2% in the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after acquiring an additional 2,396 shares during the last quarter. OP Asset Management Ltd bought a new position in FIGS in the first quarter worth about $115,000. May Hill Capital LLC acquired a new position in FIGS in the fourth quarter valued at approximately $117,000. Finally, Mach 1 Financial Group LLC bought a new position in shares of FIGS during the fourth quarter valued at approximately $178,000. 92.21% of the stock is owned by institutional investors and hedge funds.

About FIGS

FIGS, Inc is a direct-to-consumer healthcare apparel and lifestyle company that designs and sells clothing, footwear and accessories for healthcare professionals. Its product portfolio includes medical scrubs, scrub jackets, lab coats, underscrubs, outerwear, shoes, bags and other work-related accessories.

The company markets its products through its digital platform, retail locations and selected wholesale channels. FIGS emphasizes technical fabrics, comfort, functionality and contemporary styling, seeking to provide alternatives to traditional medical uniforms for nurses, physicians and other healthcare workers.

FIGS was founded in 2013 by Heather Hasson and Trina Spear and is headquartered in Santa Monica, California.