Research Analysts Set Expectations for FIGS, Inc.’s Q1 2024 Earnings (NYSE:FIGS)

FIGS, Inc. (NYSE:FIGS) – Research analysts at Telsey Advisory Group issued their Q1 2024 earnings per share estimates for shares of FIGS in a report released on Friday, May 3rd. Telsey Advisory Group analyst D. Telsey expects that the company will earn ($0.01) per share for the quarter. Telsey Advisory Group currently has a “Market Perform” rating and a $6.00 price target on the stock. The consensus estimate for FIGS’s current full-year earnings is $0.05 per share. Telsey Advisory Group also issued estimates for FIGS’s 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 (NYSE:FIGS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.05 EPS.

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

FIGS Trading Down 3.7 %

Shares of NYSE FIGS opened at $4.86 on Monday. The firm has a market capitalization of $824.92 million, a P/E ratio of 44.55, a P/E/G ratio of 19.95 and a beta of 1.41. The firm’s 50-day moving average price is $5.06 and its 200-day moving average price is $5.97. FIGS has a 1-year low of $4.37 and a 1-year high of $8.84.

Insider Buying and Selling

In other news, CFO Daniella Turenshine sold 15,762 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $5.54, for a total value of $87,321.48. Following the completion of the sale, the chief financial officer now owns 409,858 shares in the company, valued at $2,270,613.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 21,787 shares of company stock worth $122,632. 21.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FIGS

A number of hedge funds have recently made changes to their positions in FIGS. SG Americas Securities LLC bought a new stake in shares of FIGS in the 3rd quarter worth approximately $178,000. Bank of New York Mellon Corp lifted its position in shares of FIGS by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 923,080 shares of the company’s stock valued at $5,446,000 after buying an additional 30,793 shares during the last quarter. Malaga Cove Capital LLC lifted its position in shares of FIGS by 176.6% during the 3rd quarter. Malaga Cove Capital LLC now owns 86,269 shares of the company’s stock valued at $509,000 after buying an additional 55,076 shares during the last quarter. Olympiad Research LP bought a new position in shares of FIGS during the 3rd quarter worth $151,000. Finally, Principal Financial Group Inc. increased its holdings in FIGS by 40.6% in the 3rd quarter. Principal Financial Group Inc. now owns 90,545 shares of the company’s stock worth $534,000 after acquiring an additional 26,168 shares during the last quarter. 92.21% of the stock is currently owned by 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.