Hims & Hers Health (NYSE:HIMS) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Hims & Hers Health (NYSE:HIMS) had its price objective increased by equities researchers at Needham & Company LLC from $31.00 to $61.00 in a report issued on Tuesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 45.71% from the company’s current price.

A number of other analysts also recently weighed in on HIMS. BTIG Research began coverage on Hims & Hers Health in a research report on Tuesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $42.00 to $60.00 in a research report on Tuesday, February 18th. Piper Sandler increased their price objective on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. TD Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Citigroup downgraded Hims & Hers Health from a “neutral” rating to a “sell” rating and raised their target price for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.47.

Hims & Hers Health Stock Up 5.0 %

Hims & Hers Health stock opened at $41.87 on Tuesday. Hims & Hers Health has a 12-month low of $11.20 and a 12-month high of $72.98. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 95.15 and a beta of 1.35. The business’s 50-day simple moving average is $35.89 and its 200 day simple moving average is $26.36.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. As a group, sell-side analysts expect that Hims & Hers Health will post 0.29 EPS for the current year.

Insider Activity at Hims & Hers Health

In other news, insider Michael Chi sold 2,054 shares of the company’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 completion of the sale, the insider now directly owns 184,947 shares in the company, valued at $6,206,821.32. This represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew Dudum sold 33,513 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the completion of the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $1,118,296.76. The trade was a 50.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,097,578 shares of company stock valued at $38,080,320. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new position in shares of Hims & Hers Health during the 4th quarter valued at about $200,000. Mackenzie Financial Corp boosted its holdings in shares of Hims & Hers Health by 44.6% during the 4th quarter. Mackenzie Financial Corp now owns 29,096 shares of the company’s stock valued at $704,000 after purchasing an additional 8,977 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Hims & Hers Health during the 4th quarter valued at about $99,000. Neo Ivy Capital Management boosted its holdings in shares of Hims & Hers Health by 145.4% during the 4th quarter. Neo Ivy Capital Management now owns 166,734 shares of the company’s stock valued at $4,031,000 after purchasing an additional 98,798 shares during the last quarter. Finally, PharVision Advisers LLC bought a new position in shares of Hims & Hers Health during the 4th quarter valued at about $234,000. Institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.