FIGS (NYSE:FIGS) PT Lowered to $12.00 at Oppenheimer

FIGS (NYSE:FIGSGet Rating) had its price target reduced by Oppenheimer from $22.00 to $12.00 in a research note published on Thursday, The Fly reports. They currently have an outperform rating on the stock. Oppenheimer also issued estimates for FIGS’s Q4 2022 earnings at $0.00 EPS and FY2024 earnings at $0.18 EPS.

Several other analysts also recently weighed in on the stock. Raymond James reissued an outperform rating and issued a $8.00 price target (down from $12.00) on shares of FIGS in a research note on Friday, November 11th. Credit Suisse Group lowered their price target on shares of FIGS to $12.00 in a research note on Wednesday, November 16th. Telsey Advisory Group lowered their price target on shares of FIGS from $10.00 to $9.00 and set an outperform rating for the company in a research note on Friday, November 11th. Guggenheim lowered their price target on shares of FIGS to $12.00 in a research note on Wednesday, November 16th. Finally, Barclays lowered their price target on shares of FIGS from $9.00 to $6.00 and set an equal weight rating for the company in a research note on Monday, November 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $13.43.

FIGS Stock Performance

NYSE FIGS opened at $5.94 on Thursday. FIGS has a 52-week low of $5.55 and a 52-week high of $34.55. The company has a market capitalization of $985.82 million, a P/E ratio of 37.13, a P/E/G ratio of 25.89 and a beta of 1.35. The company has a fifty day moving average of $8.02 and a 200-day moving average of $9.44.

Hedge Funds Weigh In On FIGS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. increased its position in shares of FIGS by 44.2% during the third quarter. Macquarie Group Ltd. now owns 13,289,241 shares of the company’s stock valued at $109,660,000 after buying an additional 4,075,927 shares during the period. BlackRock Inc. increased its position in shares of FIGS by 10.9% during the third quarter. BlackRock Inc. now owns 9,780,882 shares of the company’s stock valued at $80,693,000 after buying an additional 957,411 shares during the period. Vanguard Group Inc. increased its position in shares of FIGS by 6.8% during the first quarter. Vanguard Group Inc. now owns 8,494,827 shares of the company’s stock valued at $182,809,000 after buying an additional 538,006 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of FIGS by 9.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,398,137 shares of the company’s stock valued at $116,168,000 after buying an additional 457,016 shares during the period. Finally, Soros Fund Management LLC increased its position in shares of FIGS by 20.4% during the second quarter. Soros Fund Management LLC now owns 3,486,215 shares of the company’s stock valued at $31,759,000 after buying an additional 590,000 shares during the period. Hedge funds and other institutional investors own 69.55% 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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