FIGS (NYSE:FIGS) Shares Gap Up to $5.72

FIGS, Inc. (NYSE:FIGS)’s share price gapped up before the market opened on Friday . The stock had previously closed at $5.72, but opened at $6.10. FIGS shares last traded at $4.98, with a volume of 1,330,965 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FIGS shares. The Goldman Sachs Group decreased their target price on FIGS from $4.85 to $4.25 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Roth Mkm lowered their target price on FIGS from $7.50 to $6.75 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $6.00 price objective on shares of FIGS in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.30.

FIGS Price Performance

The firm has a market cap of $829.01 million, a price-to-earnings ratio of 45.27, a P/E/G ratio of 86.00 and a beta of 1.42. The firm has a fifty day simple moving average of $5.58 and a two-hundred day simple moving average of $5.47.

FIGS (NYSE:FIGS) last released its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $144.23 million for the quarter, compared to the consensus estimate of $142.25 million. FIGS had a net margin of 4.07% and a return on equity of 6.12%. FIGS’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. Equities analysts anticipate that FIGS, Inc. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FIGS

Several hedge funds have recently made changes to their positions in FIGS. Wellington Management Group LLP grew its stake in FIGS by 321.5% during the 4th quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock valued at $21,377,000 after purchasing an additional 2,345,994 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in FIGS in the fourth quarter valued at approximately $12,152,000. Rice Hall James & Associates LLC purchased a new stake in FIGS in the second quarter valued at approximately $3,856,000. Bamco Inc. NY raised its position in FIGS by 2.0% during the 1st quarter. Bamco Inc. NY now owns 25,731,980 shares of the company’s stock worth $128,145,000 after buying an additional 516,496 shares during the last quarter. Finally, Applied Fundamental Research LLC increased 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 $13,786,000 after acquiring an additional 511,794 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

FIGS Company Profile

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.