Needham & Company LLC Issues Positive Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Hims & Hers Health (NYSE:HIMS) had its target price increased by Needham & Company LLC from $28.00 to $31.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on HIMS. Morgan Stanley started coverage on shares of Hims & Hers Health in a report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 target price on the stock. Piper Sandler reissued a “neutral” rating and set a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. TD Cowen reissued a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group increased their target price on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.80.

Hims & Hers Health Price Performance

Hims & Hers Health stock opened at $25.74 on Monday. The firm has a 50-day moving average of $26.97 and a 200-day moving average of $21.59. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 58.50 and a beta of 1.31. Hims & Hers Health has a one year low of $8.14 and a one year high of $35.02.

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

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total value of $68,932.24. Following the sale, the insider now owns 184,947 shares of the company’s stock, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the transaction, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at $2,960,446.53. This trade represents a 64.92 % 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 valued at $34,175,197 in the last ninety days. 17.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock worth $121,936,000 after purchasing an additional 3,205,108 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Hims & Hers Health by 34.5% during the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after buying an additional 883,230 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after acquiring an additional 482,177 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Hims & Hers Health by 164.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock valued at $10,663,000 after acquiring an additional 328,142 shares in the last quarter. Finally, Carnegie Investment Counsel bought a new stake in Hims & Hers Health during the 3rd quarter worth $5,531,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

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.