Telsey Advisory Group Reiterates Market Perform Rating for FIGS (NYSE:FIGS)

FIGS (NYSE:FIGS)‘s stock had its “market perform” rating reiterated by Telsey Advisory Group in a research note issued on Friday, Benzinga reports. They currently have a $6.00 price target on the stock. Telsey Advisory Group’s target price points to a potential upside of 19.05% from the stock’s previous close. 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.

FIGS has been the topic of several other reports. Barclays decreased their target price on shares of FIGS from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. The Goldman Sachs Group reduced their price objective on shares of FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Oppenheimer downgraded shares of FIGS from an “outperform” rating to a “market perform” rating in a research report on Friday, March 8th. Finally, Bank of America reissued an “underperform” rating and set a $4.50 price objective (down from $8.50) on shares of FIGS in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.94.

FIGS Stock Down 2.7 %

Shares of NYSE FIGS opened at $5.04 on Friday. FIGS has a 52 week low of $4.37 and a 52 week high of $8.84. The firm’s fifty day moving average is $5.06 and its 200 day moving average is $5.98. The company has a market cap of $856.35 million, a price-to-earnings ratio of 45.82, a PEG ratio of 16.73 and a beta of 1.41.

FIGS (NYSE:FIGS) last issued its earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. FIGS had a net margin of 4.15% and a return on equity of 6.72%. The company had revenue of $144.90 million for the quarter, compared to the consensus estimate of $149.09 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that FIGS will post 0.06 earnings per share for the current year.

Insider Activity

In other news, insider Heather L. Hasson sold 27,547 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total transaction of $163,353.71. Following the sale, the insider now owns 499,308 shares in the company, valued at approximately $2,960,896.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Heather L. Hasson sold 27,547 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $5.93, for a total transaction of $163,353.71. Following the sale, the insider now owns 499,308 shares in the company, valued at approximately $2,960,896.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daniella Turenshine sold 15,762 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $5.54, for a total transaction of $87,321.48. Following the sale, the chief financial officer now owns 409,858 shares in the company, valued at approximately $2,270,613.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,334 shares of company stock worth $285,986. Corporate insiders own 21.40% of the company’s stock.

Institutional Trading of FIGS

Institutional investors have recently bought and sold shares of the company. Applied Fundamental Research LLC lifted its stake in shares of FIGS by 25.8% in the first quarter. Applied Fundamental Research LLC now owns 2,495,381 shares of the company’s stock worth $12,427,000 after buying an additional 511,794 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in FIGS by 23.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock valued at $85,000 after acquiring an additional 3,247 shares in the last quarter. Lineweaver Wealth Advisors LLC purchased a new stake in FIGS during the 1st quarter valued at $95,000. Hedges Asset Management LLC purchased a new stake in FIGS during the 1st quarter valued at $359,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of FIGS in the 1st quarter worth $674,000. 92.21% of the stock is owned by hedge funds and other 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.