How is fig ipo

The deep research logic is organized as follows: 

Okay, let's tackle the user's question about FIGS' IPO. The user is interested in the stock's performance post-IPO and its potential targets. First, I need to gather all the relevant data from the provided references.

Starting with the IPO details, Reference 1 mentions the IPO date as May 27, 2021, with an offering price of $22. The current price is $6.03, which is a significant drop. That's a key point to highlight the stock's underperformance. Also, Reference 17 confirms the IPO closing details, including the underwriters and the total shares sold. The user might be interested in the underwriters' influence, but since there's no data on their performance post-IPO, I'll focus on the stock price trajectory.

Next, looking at the financial health post-IPO. Reference 4 provides the market cap of $985.06 million and enterprise value of $790.05 million. The revenue for the last 12 months is $561.17 million with a net profit of $1.18 million. The PE ratio is quite high at 836.80, which suggests the stock is overvalued based on past earnings. The ROE and ROA are low, indicating poor profitability. The user is into technical analysis, so mentioning the stock's volatility (beta of 1.32) and short interest (6.21%) could be relevant.

The user's profile mentions a focus on technical analysis and capital growth. So, I should include the stock's price movement, like the 52-week low of $4.17 and the recent price of $6.03. The upcoming earnings on August 7, 2025, could be a catalyst, so that's a point to mention. Also, the analyst ratings are mostly neutral with a low average price target, which might indicate cautious sentiment.

The user is looking for the best selling signal. The stock's underperformance post-IPO, high short interest, and negative earnings per share could be red flags. However, the company's strong gross margins (67.35%) and cash reserves ($245.1 million) might offer some stability. The recent expansion into international markets and product innovations could be growth opportunities, but the user's focus is on the IPO's performance, so I'll tie these back to potential future upside.

I need to structure the answer with a clear conclusion first, then break down the analysis into sections like IPO details, financial health, market sentiment, and risks. Using tables from the references will help present the data clearly. Also, since the user prefers technical analysis, including the stock's price trends and volatility metrics is crucial.

Make sure to cite all references properly, especially the ones with the IPO data and financial stats. The visualization for the IPO query should be included right after the relevant section. Avoid any unsupported claims and stick strictly to the provided data. The user's moderate risk tolerance means highlighting both the risks and potential upside is important.

### Conclusion 🎯
FIGS, Inc. (NYSE: FIGS) presents a mixed picture post-IPO, with significant underperformance relative to its initial offering price, but also shows potential for recovery driven by its strong market positioning in healthcare apparel and strategic initiatives. Here’s a detailed breakdown of its IPO trajectory, financial health, and market dynamics:

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### 1. **IPO Overview**
FIGS went public on **May 27, 2021**, with an offering price of **$22 per share** . The stock has since declined sharply, trading at **$6.03** as of July 21, 2025, reflecting a **72.7% drop** from its IPO price .

| Metric | IPO Details (2021) | Current (2025) |
|------------------------|----------------------|------------------|
| Offering Price | $22 | - |
| Listing Date | May 27, 2021 | - |
| Current Price | - | $6.03 |
| Market Cap | - | $985.06M |
| Enterprise Value | - | $790.05M |

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### 2. **Financial Health Post-IPO**
#### Key Metrics :
- **Revenue**: $561.17M (LTM, 2024-2025)
- **Net Profit**: $1.18M (LTM, 2024-2025)
- **Gross Margin**: 67.35% (LTM, 2024-2025)
- **PE Ratio**: 836.80 (Trailing)
- **ROE**: 0.31%
- **ROA**: 0.19%

#### Key Risks:
- **High Valuation**: The stock trades at a **trailing PE of 836.80**, far above its sector peers.
- **Profitability**: Despite strong gross margins, operating margins remain thin at **0.29%** .
- **Debt**: No immediate debt concerns, with cash reserves of **$245.1M** .

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### 3. **Market Sentiment & Analyst Ratings**
#### Analyst Consensus :
- **Price Target**: $4.61 (Average) vs. Current Price ($6.03)
- **Rating**: Neutral (7 Buy, 3 Hold, 0 Sell)
- **Key Risks**: Short-term volatility (Beta = 1.32) and high short interest (6.21% of shares outstanding) .

#### Recent Catalysts :
- **Earnings Beat**: Q4 2024 revenue ($151.8M) exceeded estimates ($139.49M), but EPS missed ($0.01 vs. $0.03).
- **Strategic Moves**: Expansion into Japan and South Korea, new product lines (e.g., Formax fabric).

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### 4. **Risks & Opportunities**
#### Risks:
- **Competition**: Direct-to-consumer (DTC) apparel space is crowded (e.g., Athleta, Hanesbrands).
- **Regulatory**: Tariffs and supply chain disruptions (e.g., U.S.-China trade tensions) .

#### Opportunities:
- **Market Expansion**: Healthcare apparel is a **$10B+ market** with steady demand .
- **Product Innovation**: Proprietary fabrics (FIONx) offer functional advantages (anti-odor, moisture-wicking) .

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### 5. **Conclusion for Investors**
FIGS is a **high-risk, high-reward** play with **long-term growth potential** in the healthcare apparel sector. However, its **high valuation**, **profitability challenges**, and **short-term volatility** make it a speculative bet. Investors with a **medium-long term horizon** and tolerance for risk may find upside in its **strategic initiatives** (e.g., international expansion, product innovation).

**Final Take**: Hold for now, with a **price target range of $5–$7** based on analyst estimates and market conditions.