Market cap of FIGS Inc. [FIGS] reaches 6.84B – now what?

FIGS Inc. [NYSE: FIGS] price surged by 17.06 percent to reach at $6.21. The company report on June 2, 2021 that FIGS Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares.

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FIGS, Inc. (FIGS), a direct-to-consumer healthcare apparel and lifestyle brand founded by Heather Hasson and Trina Spear, announced the closing of its initial public offering of 30,344,317 shares of its Class A common stock, including the full exercise of the underwriters’ option to purchase an additional 3,957,954 shares of Class A common stock, at a price to the public of $22.00 per share. FIGS sold 4,636,364 shares of Class A common stock and Tulco, LLC (Tulco), FIGS’ largest stockholder, sold 25,707,953 shares of Class A common stock. FIGS did not receive any proceeds from the sale of the shares by Tulco. The shares began trading on the New York Stock Exchange on May 27, 2021 under the ticker symbol “FIGS.”.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC acted as lead book-running managers for the offering. BofA Securities, Inc. acted as a book-running manager for the offering. KeyBanc Capital Markets Inc., Piper Sandler & Co., Oppenheimer & Co. Inc., Guggenheim Securities, LLC, Cowen and Company, LLC, Telsey Advisory Group LLC, Samuel A. Ramirez & Company, Inc., Academy Securities, Inc., R. Seelaus & Co., LLC and Siebert Williams Shank & Co., LLC acted as co-managers for the offering.

A sum of 3196839 shares traded at recent session while its average daily volume was at 2.20M shares. FIGS Inc. shares reached a high of $42.89 and dropped to a low of $36.00 until finishing in the latest session at $42.61.

Guru’s Opinion on FIGS Inc. [FIGS]:

Telsey Advisory Group have made an estimate for FIGS Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 21, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on June 21, 2021, representing the official price target for FIGS Inc. stock. Previously, the target price had yet another raise to $45, while Oppenheimer analysts kept a Outperform rating on FIGS stock.

The Average True Range (ATR) for FIGS Inc. is set at 2.93, with the Price to Sales ratio for FIGS stock in the period of the last 12 months amounting to 21.51.

FIGS Stock Performance Analysis:

FIGS Inc. [FIGS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.09.

Insight into FIGS Inc. Fundamentals:

FIGS Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 3.40.

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