FIGS’s (FIGS) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of FIGS (NYSE:FIGS) in a report released on Friday, Benzinga reports. They currently have a $6.00 price objective on the stock. Telsey Advisory Group also issued estimates for FIGS’s Q1 2024 earnings at ($0.01) EPS, Q2 2024 earnings at $0.01 EPS, Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.06 EPS.

Several other research firms have also weighed in on FIGS. The Goldman Sachs Group lowered their price target on FIGS from $4.85 to $4.25 and set a sell rating on the stock in a research report on Tuesday, April 23rd. Bank of America restated an underperform rating and set a $4.50 target price (down from $8.50) on shares of FIGS in a report on Tuesday, April 2nd. Barclays cut their price target on shares of FIGS from $7.00 to $5.00 and set an equal weight rating for the company in a research note on Friday, March 1st. Finally, Oppenheimer lowered shares of FIGS from an outperform rating to a market perform rating in a research note on Friday, March 8th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $4.94.

FIGS Stock Performance

FIGS stock traded down $0.14 during mid-day trading on Friday, reaching $5.04. The company’s stock had a trading volume of 3,456,757 shares, compared to its average volume of 2,279,850. FIGS has a 12 month low of $4.37 and a 12 month high of $8.84. The business’s 50 day simple moving average is $5.06 and its 200 day simple moving average is $5.98. The company has a market capitalization of $856.35 million, a price-to-earnings ratio of 45.82, a price-to-earnings-growth ratio of 16.73 and a beta of 1.41.

FIGS (NYSE:FIGS) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $144.90 million during the quarter, compared to the consensus estimate of $149.09 million. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. As a group, sell-side analysts expect that FIGS will post 0.06 EPS for the current year.

Insider Buying and Selling at FIGS

In related news, CFO Daniella Turenshine sold 4,201 shares of FIGS stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $6.00, for a total transaction of $25,206.00. Following the completion of the sale, the chief financial officer now owns 425,620 shares of the company’s stock, valued at approximately $2,553,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other FIGS news, insider Heather L. Hasson sold 27,547 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $5.93, for a total value of $163,353.71. Following the transaction, the insider now directly owns 499,308 shares of the company’s stock, valued at approximately $2,960,896.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniella Turenshine sold 4,201 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $6.00, for a total value of $25,206.00. Following the transaction, the chief financial officer now owns 425,620 shares in the company, valued at approximately $2,553,720. The disclosure for this sale can be found here. Insiders sold 49,334 shares of company stock valued at $285,986 in the last quarter. 21.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FIGS

Institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise boosted its stake in shares of FIGS by 50.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,000 shares of the company’s stock valued at $30,000 after buying an additional 2,000 shares during the period. Octavia Wealth Advisors LLC bought a new stake in shares of FIGS during the 4th quarter valued at $75,000. International Assets Investment Management LLC acquired a new stake in shares of FIGS during the 4th quarter worth $76,000. Counterpoint Mutual Funds LLC bought a new position in shares of FIGS in the fourth quarter worth $90,000. Finally, Janney Montgomery Scott LLC acquired a new position in FIGS in the third quarter valued at about $78,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

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.