Figs stock rose for a fourth consecutive session, gaining 3.5% by 9:45 a.m. ET, following last week's earnings report that showed profit double Wall Street forecasts. The scrubs supplier posted a 29% year-over-year sales increase to $196.6 million, with GAAP net profit up 300% and free cash flow turning positive to $97 million over the past twelve months. While Telsey Advisory lowered its price target to $16, Barclays and KeyBanc each raised their targets to $20 per share, implying roughly 36% upside. The stock's price-to-earnings ratio stands at 38 times, but on an enterprise value-to-free cash flow basis adjusted for net cash, the multiple is about 22 times.
