Citigroup Forecasts Strong Price Appreciation for Hims & Hers Health (NYSE:HIMS) Stock

Hims & Hers Health (NYSE:HIMS) had its price objective hoisted by equities researchers at Citigroup from $25.00 to $27.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. Citigroup’s price objective suggests a potential downside of 35.51% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective 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 issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $42.00 to $60.00 in a research report on Tuesday, February 18th. Finally, Piper Sandler raised their price target on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.47.

Hims & Hers Health Stock Performance

NYSE:HIMS opened at $41.87 on Tuesday. The stock has a market capitalization of $9.15 billion, a P/E ratio of 95.15 and a beta of 1.35. The company has a 50 day moving average price of $35.89 and a 200 day moving average price of $26.36. Hims & Hers Health has a fifty-two week low of $11.20 and a fifty-two week high of $72.98.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million during the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Research analysts forecast that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Chi sold 7,259 shares of Hims & Hers Health stock in a transaction on Friday, January 10th. The shares were sold at an average price of $24.07, for a total transaction of $174,724.13. Following the sale, the insider now directly owns 193,601 shares in the company, valued at $4,659,976.07. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Dudum sold 33,513 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.38, for a total transaction of $1,118,663.94. Following the transaction, the chief executive officer now directly owns 33,502 shares in the company, valued at $1,118,296.76. The trade was a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,097,578 shares of company stock worth $38,080,320 in the last ninety days. 17.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in Hims & Hers Health during the 4th quarter worth $28,000. Raleigh Capital Management Inc. grew its position in Hims & Hers Health by 1,100.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,100 shares during the last quarter. Blume Capital Management Inc. grew its position in Hims & Hers Health by 100.0% during the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in Hims & Hers Health during the 4th quarter worth $38,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hims & Hers Health Company Profile

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.