FIGS (NYSE:FIGS) Price Target Increased to $15.00 by Analysts at Barclays

FIGS (NYSE:FIGSGet Rating) had its target price hoisted by Barclays from $13.00 to $15.00 in a report released on Friday morning, The Fly reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also commented on FIGS. Raymond James started coverage on FIGS in a research report on Thursday, June 30th. They issued a strong-buy rating and a $15.00 price objective on the stock. Credit Suisse Group decreased their target price on FIGS from $26.00 to $15.00 and set an outperform rating on the stock in a research report on Friday, May 13th. The Goldman Sachs Group lowered FIGS from a neutral rating to a sell rating and decreased their price objective for the company from $14.00 to $7.00 in a report on Thursday, July 21st. FIG Partners lowered FIGS from a buy rating to a neutral rating and decreased their price objective for the company from $32.00 to $12.00 in a report on Monday, May 16th. Finally, Oppenheimer decreased their price objective on FIGS from $45.00 to $22.00 and set a na rating on the stock in a report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $20.69.

FIGS Trading Up 6.9 %

Shares of NYSE:FIGS opened at $11.80 on Friday. FIGS has a twelve month low of $6.93 and a twelve month high of $48.63. The company’s 50 day moving average is $9.16 and its 200 day moving average is $14.54. The company has a market cap of $1.94 billion, a PE ratio of 69.41, a price-to-earnings-growth ratio of 34.58 and a beta of 1.65.

FIGS (NYSE:FIGSGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. FIGS had a net margin of 7.18% and a return on equity of 17.44%. The company had revenue of $122.20 million for the quarter, compared to the consensus estimate of $117.96 million. During the same quarter in the prior year, the company earned ($0.26) EPS. FIGS’s quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts predict that FIGS will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FIGS

Several hedge funds and other institutional investors have recently made changes to their positions in FIGS. Guggenheim Capital LLC lifted its stake in FIGS by 1,267.2% during the fourth quarter. Guggenheim Capital LLC now owns 5,679,666 shares of the company’s stock worth $156,531,000 after purchasing an additional 5,264,244 shares during the last quarter. Grandeur Peak Global Advisors LLC lifted its stake in FIGS by 621.2% during the first quarter. Grandeur Peak Global Advisors LLC now owns 1,461,418 shares of the company’s stock worth $31,450,000 after purchasing an additional 1,258,773 shares during the last quarter. Soros Fund Management LLC lifted its stake in FIGS by 60.7% during the first quarter. Soros Fund Management LLC now owns 2,896,215 shares of the company’s stock worth $62,327,000 after purchasing an additional 1,094,393 shares during the last quarter. Alliancebernstein L.P. lifted its stake in FIGS by 49.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,842,597 shares of the company’s stock worth $78,342,000 after purchasing an additional 934,714 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in FIGS during the fourth quarter worth approximately $22,867,000. Hedge funds and other institutional investors own 70.56% of the company’s stock.

About FIGS

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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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