Hims & Hers Health (NYSE:HIMS) Price Target Raised to $31.00

Hims & Hers Health (NYSE:HIMS) had its price objective upped by stock analysts at Needham & Company LLC from $28.00 to $31.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 12.28% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. TD Cowen reiterated a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Piper Sandler reiterated a “neutral” rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Canaccord Genuity Group increased their price target on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Hims & Hers Health in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Hims & Hers Health has an average rating of “Hold” and a consensus price target of $24.80.

Hims & Hers Health Price Performance

HIMS stock opened at $27.61 on Monday. The company has a 50 day moving average price of $26.84 and a 200 day moving average price of $21.57. Hims & Hers Health has a fifty-two week low of $8.14 and a fifty-two week high of $35.02. The stock has a market capitalization of $6.03 billion, a PE ratio of 62.75 and a beta of 1.31.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. As a group, equities analysts expect that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Chi sold 2,054 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the transaction, the insider now directly owns 184,947 shares in the company, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 268,932 shares of Hims & Hers Health stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.75, for a total value of $7,462,863.00. Following the completion of the sale, the insider now directly owns 169,803 shares in the company, valued at approximately $4,712,033.25. This represents a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,333,446 shares of company stock worth $34,175,197 over the last ninety days. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Main Management ETF Advisors LLC bought a new stake in Hims & Hers Health during the 3rd quarter worth about $672,000. Robeco Institutional Asset Management B.V. bought a new stake in Hims & Hers Health during the third quarter worth about $604,000. Carnegie Investment Counsel acquired a new position in Hims & Hers Health during the third quarter valued at approximately $5,531,000. Royce & Associates LP grew its stake in Hims & Hers Health by 17.0% in the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after purchasing an additional 49,500 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Hims & Hers Health during the 3rd quarter worth approximately $634,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.