FIGS, Inc. (NYSE:FIGS – Get Rating) – Research analysts at Telsey Advisory Group boosted their Q1 2022 EPS estimates for FIGS in a research note issued to investors on Tuesday, May 10th. Telsey Advisory Group analyst D. Telsey now expects that the company will post earnings of $0.06 per share for the quarter, up from their prior estimate of $0.04. Telsey Advisory Group currently has a “Outperform” rating and a $30.00 target price on the stock.
A number of other equities research analysts have also commented on FIGS. KeyCorp decreased their price target on FIGS from $45.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, January 20th. Bank of America decreased their price target on FIGS from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Piper Sandler reduced their price objective on FIGS from $45.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, March 9th. Truist Financial began coverage on FIGS in a report on Thursday, April 7th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, The Goldman Sachs Group reduced their price objective on FIGS from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, March 1st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $32.43.
FIGS (NYSE:FIGS – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $110.10 million for the quarter, compared to the consensus estimate of $117.33 million. FIGS had a negative return on equity of 1.83% and a negative net margin of 2.28%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share.
A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in FIGS during the 1st quarter worth $3,749,000. Charles Schwab Investment Management Inc. raised its stake in FIGS by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 192,941 shares of the company’s stock worth $4,153,000 after buying an additional 2,903 shares during the period. Soros Fund Management LLC raised its stake in FIGS by 60.7% during the 1st quarter. Soros Fund Management LLC now owns 2,896,215 shares of the company’s stock worth $62,327,000 after buying an additional 1,094,393 shares during the period. Clearbridge Investments LLC raised its stake in FIGS by 136.5% during the 1st quarter. Clearbridge Investments LLC now owns 726,912 shares of the company’s stock worth $15,643,000 after buying an additional 419,609 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in FIGS during the 1st quarter worth $1,954,000. 70.56% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Thomas Tull purchased 29,185 shares of the business’s stock in a transaction dated Thursday, April 21st. The shares were bought at an average price of $17.13 per share, with a total value of $499,939.05. Following the purchase, the insider now directly owns 25,670,175 shares in the company, valued at approximately $439,730,097.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniella Turenshine sold 8,414 shares of the stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $14.63, for a total value of $123,096.82. The disclosure for this sale can be found here. In the last three months, insiders bought 361,972 shares of company stock worth $7,254,405.
About FIGS (Get Rating)
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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