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

Hims & Hers Health (NYSE:HIMS) had its price objective upped by Piper Sandler from $21.00 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 13.07% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft raised 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 note on Wednesday, November 6th. Needham & Company LLC boosted their price objective on Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen restated a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Canaccord Genuity Group lifted their price target on Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $18.00 in a report on Thursday, November 14th. One investment 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. Based on data from MarketBeat.com, Hims & Hers Health presently has a consensus rating of “Hold” and a consensus target price of $24.80.

Hims & Hers Health Stock Performance

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

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. On average, analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other news, insider Soleil Boughton sold 268,932 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the transaction, the insider now directly owns 169,803 shares in the company, valued at $4,712,033.25. This trade represents a 61.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of Hims & Hers Health stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $20.88, for a total value of $3,943,981.44. Following the completion of the sale, the chief executive officer now directly owns 67,015 shares of the company’s stock, valued at $1,399,273.20. The trade was a 73.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,333,446 shares of company stock worth $34,175,197. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Hims & Hers Health by 2,173.7% in the 4th quarter. GAMMA Investing LLC now owns 2,251 shares of the company’s stock valued at $54,000 after purchasing an additional 2,152 shares in the last quarter. Quest Partners LLC raised its holdings in 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 in the last quarter. Van ECK Associates Corp acquired a new stake in Hims & Hers Health in the second quarter valued at approximately $111,000. CWM LLC lifted its stake in Hims & Hers Health by 21.4% in the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Quarry LP grew 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 worth $113,000 after acquiring an additional 2,913 shares in the last quarter. Hedge funds and other institutional investors 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.