FIGS (NYSE:FIGS) Upgraded at Oppenheimer

Oppenheimer upgraded shares of FIGS (NYSE:FIGS) from a market perform rating to an outperform rating in a research note issued to investors on Friday morning, Marketbeat.com reports. They currently have $22.00 price objective on the stock.

Several other research firms have also recently issued reports on FIGS. BTIG Research restated a “buy” rating and set a $15.00 price objective on shares of FIGS in a research report on Friday, February 27th. The Goldman Sachs Group upgraded shares of FIGS from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Barclays upgraded shares of FIGS from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Morgan Stanley lifted their price target on shares of FIGS from $7.50 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Wolfe Research upgraded FIGS to a “buy” rating in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.93.

FIGS Stock Performance

NYSE:FIGS opened at $14.18 on Friday. FIGS has a one year low of $3.57 and a one year high of $17.48. The stock has a market cap of $2.36 billion, a PE ratio of 74.61 and a beta of 1.21. The stock has a 50 day moving average price of $12.56 and a 200 day moving average price of $10.30.

FIGS (NYSE:FIGS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. FIGS had a return on equity of 8.41% and a net margin of 5.43%.The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $165.33 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year. As a group, analysts predict that FIGS will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sarah Oughtred sold 22,690 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $10.56, for a total transaction of $239,606.40. Following the sale, the chief financial officer owned 821,500 shares of the company’s stock, valued at approximately $8,675,040. This represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Catherine Eva Spear sold 49,734 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $11.38, for a total value of $565,972.92. Following the completion of the sale, the chief executive officer owned 1,857,299 shares in the company, valued at approximately $21,136,062.62. The trade was a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 662,140 shares of company stock worth $10,542,161 over the last 90 days. Corporate insiders own 29.44% of the company’s stock.

Hedge Funds Weigh In On FIGS

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. acquired a new position in shares of FIGS during the third quarter worth about $35,000. Elevated Capital Advisors LLC purchased a new position in FIGS in the fourth quarter worth approximately $45,000. Quarry LP grew its holdings in FIGS by 1,876.3% during the 3rd quarter. Quarry LP now owns 7,846 shares of the company’s stock worth $52,000 after acquiring an additional 7,449 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in FIGS during the 2nd quarter worth approximately $61,000. Finally, Walleye Capital LLC purchased a new stake in shares of FIGS in the 2nd quarter valued at approximately $65,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

FIGS Company Profile

FIGS, Inc operates as a direct-to-consumer designer and retailer of medical apparel and accessories. The company offers a range of products tailored to the needs of healthcare professionals, including scrub sets, lab coats, tops, bottoms, outerwear, footwear, and performance fabrics designed for comfort, durability, and antimicrobial protection. Through its e-commerce platform and a growing network of retail stores, FIGS provides customizable uniforms and accessories with a focus on innovative materials and functional design features such as four-way stretch fabrics, moisture-wicking technology, and multiple secure pockets.

Founded in 2013 by Heather Hasson and Trina Spear, FIGS set out to disrupt the traditional medical uniform market by emphasizing both form and function.