Needham & Company LLC Forecasts Strong Price Appreciation for Hims & Hers Health (NYSE:HIMS) Stock

Hims & Hers Health (NYSE:HIMS) had its target price boosted by equities research analysts at Needham & Company LLC from $28.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 16.41% from the stock’s current price.

HIMS has been the subject of a number of other research reports. TD Cowen reissued a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Piper Sandler reiterated a “neutral” rating and set a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Canaccord Genuity Group boosted 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. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Morgan Stanley started coverage on shares of Hims & Hers Health in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $42.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.86.

Hims & Hers Health Price Performance

Shares of HIMS opened at $26.63 on Monday. The company has a market cap of $5.82 billion, a PE ratio of 60.52 and a beta of 1.25. The firm has a 50-day moving average of $26.66 and a 200-day moving average of $21.50. Hims & Hers Health has a one year low of $8.09 and a one year high of $35.02.

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

Insiders Place Their Bets

In related news, insider Michael Chi sold 17,303 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $27.97, for a total value of $483,964.91. Following the sale, the insider now owns 193,601 shares of the company’s stock, valued at $5,415,019.97. The trade was a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the firm’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 approximately $2,960,446.53. This represents a 64.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,064,514 shares of company stock valued at $26,712,334 in the last 90 days. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently made changes to their positions in HIMS. Main Management ETF Advisors LLC acquired a new position in shares of Hims & Hers Health in the third quarter worth approximately $672,000. Robeco Institutional Asset Management B.V. bought a new position in Hims & Hers Health during the 3rd quarter worth approximately $604,000. Carnegie Investment Counsel bought a new stake in shares of Hims & Hers Health in the 3rd quarter valued at $5,531,000. Royce & Associates LP increased its position in shares of Hims & Hers Health by 17.0% during the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after buying an additional 49,500 shares during the period. Finally, Versor Investments LP bought a new position in Hims & Hers Health during the third quarter worth $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.