Hims & Hers Health (NYSE:HIMS) Price Target Raised to $38.00

Hims & Hers Health (NYSE:HIMS) had its price objective raised by Canaccord Genuity Group from $28.00 to $38.00 in a report published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

HIMS has been the subject of a number of other research reports. TD Cowen reaffirmed a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a report on Friday, August 9th. Needham & Company LLC assumed coverage on Hims & Hers Health in a report on Thursday, August 22nd. They set a “buy” rating and a $24.00 target price for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $21.00 target price (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.43.

Hims & Hers Health Stock Performance

Shares of NYSE HIMS opened at $33.92 on Monday. The company has a market cap of $7.41 billion, a PE ratio of 76.14 and a beta of 1.25. The business has a 50-day simple moving average of $22.60 and a two-hundred day simple moving average of $20.18. Hims & Hers Health has a fifty-two week low of $8.09 and a fifty-two week high of $35.02.

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

Insider Activity

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 12,651 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $16.79, for a total transaction of $212,410.29. Following the sale, the chief financial officer now owns 211,000 shares in the company, valued at $3,542,690. This represents a 5.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Soleil Boughton sold 2,339 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $16.50, for a total value of $38,593.50. Following the sale, the insider now owns 176,952 shares in the company, valued at approximately $2,919,708. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 974,495 shares of company stock valued at $22,548,139 in the last quarter. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in Hims & Hers Health by 239.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 168,427 shares of the company’s stock worth $2,606,000 after acquiring an additional 118,848 shares during the period. Cetera Advisors LLC acquired a new stake in Hims & Hers Health during the 1st quarter worth approximately $396,000. Gunderson Capital Management Inc. acquired a new stake in Hims & Hers Health during the 2nd quarter worth approximately $1,836,000. QRG Capital Management Inc. acquired a new stake in Hims & Hers Health during the 2nd quarter worth approximately $3,149,000. Finally, SG Americas Securities LLC acquired a new stake in Hims & Hers Health during the 2nd quarter worth approximately $2,223,000. Hedge funds and other institutional investors 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.