Stock analysts at Cantor Fitzgerald assumed coverage on shares of FIGS (NYSE:FIGS – Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $25.00 price target on the stock. Cantor Fitzgerald‘s target price indicates a potential upside of 15.96% from the stock’s previous close.
Several other equities analysts have also recently weighed in on FIGS. KeyCorp increased their price target on FIGS from $20.00 to $27.00 and gave the company an “overweight” rating in a report on Friday. Roth Capital restated a “buy” rating on shares of FIGS in a research note on Friday, August 7th. Telsey Advisory Group cut 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. Wall Street Zen cut FIGS from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Barclays increased their target price on FIGS from $20.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.62.
Read Our Latest Report on FIGS
FIGS Stock Up 8.8%
Shares of FIGS stock opened at $21.56 on Tuesday. The company has a 50 day moving average price of $16.46 and a 200-day moving average price of $13.69. FIGS has a 52 week low of $8.36 and a 52 week high of $22.46. The firm has a market capitalization of $3.58 billion, a PE ratio of 56.74 and a beta of 1.05.
FIGS (NYSE:FIGS – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. FIGS had a net margin of 8.72% and a return on equity of 12.53%. The company had revenue of $190.69 million for the quarter, compared to the consensus estimate of $182.82 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. Analysts anticipate that FIGS will post 0.34 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO Catherine Spear sold 4,044,284 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $19.70, for a total value of $79,672,394.80. Following the completion of the transaction, the chief executive officer owned 1,671,854 shares of the company’s stock, valued at approximately $32,935,523.80. This represents a 70.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 27.06% of the company’s stock.
Hedge Funds Weigh In On FIGS
Large investors have recently made changes to their positions in the business. Sterling Capital Management LLC lifted its position in shares of FIGS by 848.2% in the third quarter. Sterling Capital Management LLC now owns 3,167 shares of the company’s stock valued at $44,000 after acquiring an additional 2,833 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of FIGS during the second quarter worth about $41,000. IFP Advisors Inc grew its position in shares of FIGS by 120.2% during the second quarter. IFP Advisors Inc now owns 4,389 shares of the company’s stock worth $45,000 after purchasing an additional 2,396 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in FIGS during the 3rd quarter valued at approximately $116,000. Finally, SBI Securities Co. Ltd. raised its stake in FIGS by 11,872.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 14,128 shares of the company’s stock valued at $196,000 after purchasing an additional 14,010 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.
FIGS Company Profile
FIGS, Inc designs and sells apparel and accessories for healthcare professionals. Its products include scrubs, underscrubs, lab coats, outerwear, footwear, compression socks and other work-related accessories, with an emphasis on functional design and performance fabrics.
The company primarily sells through its e-commerce platform, serving healthcare workers in the United States and internationally. Its offerings are aimed at professionals across a range of medical roles and care settings.
FIGS was founded in 2013 by Heather Hasson and Trina Spear.
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