Barclays Issues Pessimistic Forecast for FIGS (NYSE:FIGS) Stock Price

FIGS (NYSE:FIGS) had its price target reduced by investment analysts at Barclays from $5.00 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 17.01% from the company’s current price.

Several other research analysts have also recently issued reports on FIGS. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $7.00 price target on shares of FIGS in a report on Monday, November 4th. The Goldman Sachs Group lifted their target price on shares of FIGS from $4.25 to $4.75 and gave the stock a “sell” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, FIGS has an average rating of “Hold” and an average price target of $5.40.

FIGS Price Performance

Shares of FIGS stock traded up $0.07 during trading on Tuesday, hitting $4.82. The stock had a trading volume of 791,156 shares, compared to its average volume of 3,534,213. The business has a fifty day moving average of $6.14 and a two-hundred day moving average of $5.73. FIGS has a fifty-two week low of $4.30 and a fifty-two week high of $7.98. The firm has a market cap of $823.55 million, a P/E ratio of 80.67, a PEG ratio of 63.73 and a beta of 1.44.

Hedge Funds Weigh In On FIGS

Several institutional investors and hedge funds have recently modified their holdings of FIGS. Dakota Wealth Management purchased a new position in FIGS in the second quarter valued at about $57,000. Verus Capital Partners LLC acquired a new stake in FIGS in the second quarter valued at approximately $79,000. Janney Montgomery Scott LLC grew its position in FIGS by 23.6% in the first quarter. Janney Montgomery Scott LLC now owns 16,977 shares of the company’s stock worth $85,000 after acquiring an additional 3,247 shares in the last quarter. Creative Planning increased its stake in shares of FIGS by 17.7% during the 3rd quarter. Creative Planning now owns 12,697 shares of the company’s stock worth $87,000 after purchasing an additional 1,911 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of FIGS during the 3rd quarter valued at $104,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

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.