The Goldman Sachs Group Increases FIGS (NYSE:FIGS) Price Target to $5.50

FIGS (NYSE:FIGS) had its target price increased by equities researchers at The Goldman Sachs Group from $5.00 to $5.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 35.82% from the company’s current price.

Several other research analysts have also issued reports on the company. BTIG Research increased their target price on FIGS from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday. Telsey Advisory Group reiterated a “market perform” rating and issued a $9.00 price objective (up previously from $7.00) on shares of FIGS in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of FIGS in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of FIGS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 12th. Finally, Morgan Stanley lifted their price target on shares of FIGS from $4.25 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.90.

FIGS Trading Up 13.9%

NYSE:FIGS opened at $8.57 on Friday. The company has a 50-day moving average price of $7.29 and a 200-day moving average price of $6.17. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 85.69, a P/E/G ratio of 5.48 and a beta of 1.34. FIGS has a 12 month low of $3.57 and a 12 month high of $8.90.

FIGS (NYSE:FIGS) last released its quarterly 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 3.03% and a return on equity of 4.58%. The company had revenue of $151.66 million during the quarter, compared to the consensus estimate of $142.39 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. FIGS’s revenue was up 8.2% on a year-over-year basis. FIGS has set its FY 2025 guidance at EPS. Equities analysts forecast that FIGS will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sarah Oughtred sold 22,745 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $7.39, for a total value of $168,085.55. Following the transaction, the chief financial officer owned 845,345 shares in the company, valued at $6,247,099.55. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Catherine Eva Spear sold 65,866 shares of FIGS stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.88, for a total transaction of $453,158.08. Following the completion of the transaction, the chief executive officer directly owned 1,969,246 shares of the company’s stock, valued at $13,548,412.48. This trade represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 184,148 shares of company stock worth $1,295,234 in the last quarter. Corporate insiders own 29.44% of the company’s stock.

Institutional Investors Weigh In On FIGS

Large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new position in FIGS during the 1st quarter valued at about $66,000. Lane & Associates LLC grew its position in FIGS by 41.8% in the 1st quarter. Lane & Associates LLC now owns 21,405 shares of the company’s stock worth $98,000 after purchasing an additional 6,305 shares during the period. Security Benefit Life Insurance Co. KS purchased a new stake in FIGS during the 1st quarter valued at $6,962,000. Victory Capital Management Inc. boosted its stake in shares of FIGS by 49.8% in the 1st quarter. Victory Capital Management Inc. now owns 143,691 shares of the company’s stock worth $660,000 after buying an additional 47,797 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of FIGS in the first quarter worth $4,640,000. 92.21% of the stock is currently owned by institutional investors.

About FIGS

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.