Telsey Advisory Group Weighs in on Honest FY2024 Earnings

The Honest Company, Inc. (NASDAQ:HNST) – Equities researchers at Telsey Advisory Group raised their FY2024 earnings estimates for shares of Honest in a note issued to investors on Wednesday, November 13th. Telsey Advisory Group analyst D. Telsey now anticipates that the company will post earnings of ($0.07) per share for the year, up from their prior estimate of ($0.11). Telsey Advisory Group currently has a “Market Perform” rating and a $6.00 price target on the stock. The consensus estimate for Honest’s current full-year earnings is ($0.10) per share. Telsey Advisory Group also issued estimates for Honest’s FY2025 earnings at $0.00 EPS.

HNST has been the topic of a number of other research reports. Northland Securities lifted their price target on shares of Honest from $6.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday. Alliance Global Partners boosted their target price on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research note on Wednesday. Northland Capmk upgraded Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, B. Riley lifted their price objective on Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.93.

Honest Stock Performance

Shares of HNST stock opened at $6.91 on Friday. Honest has a 52 week low of $1.40 and a 52 week high of $7.14. The firm’s 50-day simple moving average is $3.96 and its two-hundred day simple moving average is $3.52. The firm has a market cap of $697.64 million, a price-to-earnings ratio of -172.75 and a beta of 1.85.

Institutional Trading of Honest

A number of large investors have recently modified their holdings of HNST. EntryPoint Capital LLC purchased a new position in Honest in the first quarter worth $27,000. Zacks Investment Management purchased a new position in shares of Honest in the 3rd quarter worth about $37,000. Creative Planning bought a new position in shares of Honest during the 3rd quarter valued at about $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Honest during the 3rd quarter valued at about $40,000. Finally, Lazard Asset Management LLC bought a new stake in Honest in the 1st quarter worth approximately $52,000. Institutional investors own 45.54% of the company’s stock.

Insider Activity at Honest

In other Honest news, major shareholder Shared Abacus Lp Thc sold 2,300,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $3.50, for a total value of $8,050,000.00. Following the completion of the transaction, the insider now directly owns 9,869,803 shares of the company’s stock, valued at $34,544,310.50. This trade represents a 18.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Winchell sold 6,938 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $29,694.64. Following the completion of the transaction, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,461,187 shares of company stock worth $8,739,880. 8.60% of the stock is owned by company insiders.

About Honest

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.