Figs IncFIGS
▲ PositiveCapitalrelevance
Earnings beat and analyst price target raises
Impact on stocks 1
Health Care
Figs IncFigs Stock Rises After Earnings Beat and Analyst Upgrades
EarningsAnalyst
Figs stock climbed for a fourth straight day after the company reported second-quarter earnings that crushed Wall Street forecasts. The scrubs supplier posted a 300% year-over-year increase in GAAP net profit and saw its stock surge nearly 27% on earnings day. Barclays analyst Adrienne Yih and KeyBanc analyst Ashley Owens both raised their price targets to $20 per share, implying a potential 36% upside from current levels. Figs generated $97 million in free cash flow over the past twelve months, and the stock trades at an enterprise value-to-free cash flow ratio of 22 times, which some investors consider cheap given its growth rate.
Figs IncEarnings beat and analyst price target raises