Needham & Company LLC Increases Hims & Hers Health (NYSE:HIMS) Price Target 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 research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 12.28% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. TD Cowen reissued a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a report on Wednesday, November 20th. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Morgan Stanley assumed coverage on Hims & Hers Health in a report on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price target on the stock. Finally, Bank of America cut 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health has a consensus rating of “Hold” and an average target price of $24.80.

Hims & Hers Health Price Performance

Shares of Hims & Hers Health stock opened at $27.61 on Monday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 62.75 and a beta of 1.31. The stock has a 50-day simple moving average of $26.84 and a 200-day simple moving average of $21.57. Hims & Hers Health has a 52-week low of $8.14 and a 52-week high of $35.02.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $382.20 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The company’s revenue was up 77.1% compared to the same quarter last year. As a group, equities research analysts predict 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, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $20.88, for a total transaction of $3,943,981.44. Following the sale, the chief executive officer now directly owns 67,015 shares of the company’s stock, valued at approximately $1,399,273.20. The trade was a 73.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 269,739 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 145,763 shares of the company’s stock, valued at approximately $2,960,446.53. The trade was a 64.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,333,446 shares of company stock valued at $34,175,197 in the last 90 days. 17.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Hims & Hers Health by 2,173.7% in the fourth quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock valued at $54,000 after buying an additional 2,152 shares in the last quarter. Quest Partners LLC raised its stake in shares of Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock valued at $72,000 after acquiring an additional 3,507 shares during the last quarter. CWM LLC raised its stake in shares of Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock valued at $110,000 after acquiring an additional 1,054 shares during the last quarter. Van ECK Associates Corp bought a new stake in Hims & Hers Health during the 2nd quarter worth approximately $111,000. Finally, Quarry LP increased its holdings in Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after purchasing an additional 2,913 shares in the last quarter. 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.