FIGS (NYSE:FIGS) Research Coverage Started at Raymond James

Raymond James started coverage on shares of FIGS (NYSE:FIGSGet Rating) in a research report released on Thursday, MarketBeat reports. The brokerage issued a strong-buy rating and a $15.00 price objective on the stock.

FIGS has been the topic of a number of other reports. Piper Sandler dropped their target price on shares of FIGS from $45.00 to $36.00 and set an overweight rating on the stock in a research note on Wednesday, March 9th. Barclays dropped their target price on shares of FIGS from $34.00 to $13.00 and set a na rating on the stock in a research note on Monday, May 16th. FIG Partners cut shares of FIGS from a buy rating to a neutral rating and dropped their target price for the company from $32.00 to $12.00 in a research note on Monday, May 16th. Telsey Advisory Group dropped their target price on shares of FIGS from $46.00 to $30.00 and set an outperform rating on the stock in a research note on Thursday, March 3rd. Finally, Oppenheimer dropped their target price on shares of FIGS from $45.00 to $22.00 and set a na rating on the stock in a research note on Monday, May 16th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $23.92.

Shares of FIGS stock opened at $9.38 on Thursday. FIGS has a 52-week low of $6.93 and a 52-week high of $48.63. The company has a 50-day simple moving average of $10.29 and a two-hundred day simple moving average of $17.02. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -78.17, a PEG ratio of 27.44 and a beta of 1.43.

FIGS (NYSE:FIGSGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). FIGS had a negative return on equity of 1.96% and a negative net margin of 2.73%. The firm had revenue of $110.10 million during the quarter, compared to the consensus estimate of $117.33 million. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, research analysts predict that FIGS will post 0.16 earnings per share for the current fiscal year.

In other news, major shareholder Thomas Tull bought 29,185 shares of the stock in a transaction on Thursday, April 21st. The shares were acquired at an average cost of $17.13 per share, for a total transaction of $499,939.05. Following the purchase, the insider now directly owns 25,670,175 shares of the company’s stock, valued at approximately $439,730,097.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Several large investors have recently modified their holdings of FIGS. Guggenheim Capital LLC increased its holdings in shares of FIGS by 1,267.2% in the 4th quarter. Guggenheim Capital LLC now owns 5,679,666 shares of the company’s stock worth $156,531,000 after buying an additional 5,264,244 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of FIGS during the 4th quarter valued at $73,116,000. Grandeur Peak Global Advisors LLC grew its holdings in shares of FIGS by 621.2% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 1,461,418 shares of the company’s stock valued at $31,450,000 after purchasing an additional 1,258,773 shares during the last quarter. Soros Fund Management LLC grew its holdings in shares of FIGS by 60.7% during the 1st quarter. Soros Fund Management LLC now owns 2,896,215 shares of the company’s stock valued at $62,327,000 after purchasing an additional 1,094,393 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of FIGS by 49.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,842,597 shares of the company’s stock valued at $78,342,000 after purchasing an additional 934,714 shares during the last quarter. 70.56% of the stock is currently owned by hedge funds and other institutional investors.

About FIGS (Get Rating)

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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