Hims & Hers Health (NYSE:HIMS) Price Target Raised to $24.00

Hims & Hers Health (NYSE:HIMS) had its price objective lifted by Canaccord Genuity Group from $20.00 to $24.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Leerink Partnrs reaffirmed a market perform rating on shares of Hims & Hers Health in a research note on Monday, February 26th. Piper Sandler lifted their price objective on shares of Hims & Hers Health from $11.00 to $13.00 and gave the company a neutral rating in a report on Tuesday, May 7th. Imperial Capital upgraded Hims & Hers Health from an in-line rating to an outperform rating and set a $16.00 target price for the company in a report on Wednesday, February 28th. TheStreet upgraded Hims & Hers Health from a d rating to a c rating in a report on Monday, March 4th. Finally, Citigroup cut Hims & Hers Health from a buy rating to a neutral rating and upped their price objective for the stock from $16.00 to $20.00 in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health presently has a consensus rating of Moderate Buy and a consensus price target of $15.69.

Hims & Hers Health Stock Performance

Shares of NYSE:HIMS opened at $16.87 on Wednesday. The firm has a fifty day moving average price of $14.16 and a 200 day moving average price of $11.11. Hims & Hers Health has a fifty-two week low of $5.65 and a fifty-two week high of $20.11.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, May 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative net margin of 0.24% and a negative return on equity of 0.70%. The business had revenue of $278.20 million during the quarter, compared to analyst estimates of $270.37 million. During the same quarter last year, the business earned ($0.05) earnings per share. Hims & Hers Health’s quarterly revenue was up 45.8% compared to the same quarter last year. Research analysts expect that Hims & Hers Health will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew Dudum sold 50,361 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $16.34, for a total transaction of $822,898.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew Dudum sold 50,361 shares of Hims & Hers Health stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $16.34, for a total transaction of $822,898.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Soleil Boughton sold 4,915 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $20.01, for a total transaction of $98,349.15. Following the completion of the transaction, the insider now owns 159,357 shares of the company’s stock, valued at approximately $3,188,733.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 594,553 shares of company stock valued at $8,454,738. 17.71% of the stock is owned by company insiders.

Institutional Trading of Hims & Hers Health

Institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in shares of Hims & Hers Health during the fourth quarter valued at approximately $48,000. Belpointe Asset Management LLC purchased a new position in Hims & Hers Health in the 3rd quarter valued at $76,000. EMC Capital Management grew its stake in Hims & Hers Health by 80.0% during the 3rd quarter. EMC Capital Management now owns 12,000 shares of the company’s stock valued at $79,000 after acquiring an additional 5,332 shares in the last quarter. Certuity LLC purchased a new stake in shares of Hims & Hers Health in the fourth quarter valued at approximately $109,000. Finally, Corton Capital Inc. acquired a new stake in shares of Hims & Hers Health in the 3rd quarter worth $122,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

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.