Needham & Company LLC Raises Hims & Hers Health (NYSE:HIMS) Price Target to $61.00

Hims & Hers Health (NYSE:HIMS) had its price target lifted by Needham & Company LLC from $31.00 to $61.00 in a report published on Tuesday, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on HIMS. Piper Sandler upped their price target on Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. BTIG Research initiated coverage on shares of Hims & Hers Health in a research note on Tuesday, January 7th. They issued a “buy” rating and a $35.00 price target on the stock. Citigroup cut shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America upped their price target on shares of Hims & Hers Health from $18.00 to $21.00 and gave the stock an “underperform” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.71.

Hims & Hers Health Price Performance

Shares of NYSE HIMS opened at $41.30 on Tuesday. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 93.85 and a beta of 1.35. The firm’s 50 day simple moving average is $36.19 and its 200-day simple moving average is $26.46. Hims & Hers Health has a 12 month low of $11.20 and a 12 month high of $72.98.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The company had revenue of $481.14 million for the quarter, compared to analyst estimates of $494.56 million. Analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Oluyemi Okupe sold 18,959 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $25.77, for a total transaction of $488,573.43. Following the transaction, the chief financial officer now owns 132,578 shares of the company’s stock, valued at approximately $3,416,535.06. The trade was a 12.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 268,932 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $27.75, for a total transaction of $7,462,863.00. Following the completion of the sale, the insider now directly owns 169,803 shares of the company’s stock, valued at $4,712,033.25. This represents a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,097,578 shares of company stock worth $38,080,320 over the last ninety days. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently bought and sold shares of the company. SlateStone Wealth LLC increased its holdings in shares of Hims & Hers Health by 4.0% during the 4th quarter. SlateStone Wealth LLC now owns 10,640 shares of the company’s stock worth $257,000 after buying an additional 413 shares during the last quarter. Blume Capital Management Inc. increased its stake in Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 600 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Hims & Hers Health by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 19,853 shares of the company’s stock valued at $480,000 after purchasing an additional 628 shares during the period. Quest Partners LLC lifted its stake in shares of Hims & Hers Health by 22.6% in the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock valued at $81,000 after purchasing an additional 807 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Hims & Hers Health by 18.8% in the 4th quarter. Harbour Investments Inc. now owns 5,269 shares of the company’s stock valued at $127,000 after purchasing an additional 833 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

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.