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

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

HIMS has been the subject of several other research reports. 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. Piper Sandler raised their price target on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their price target 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. Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Citigroup downgraded shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and raised their price target for the stock from $24.00 to $25.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.40.

Hims & Hers Health Stock Performance

Shares of NYSE:HIMS opened at $39.95 on Tuesday. The firm has a fifty day moving average price of $35.62 and a 200 day moving average price of $26.25. Hims & Hers Health has a fifty-two week low of $9.67 and a fifty-two week high of $72.98. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 90.79 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data 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 business had revenue of $481.14 million during the quarter, compared to analyst estimates of $494.56 million. As a group, research analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael Chi sold 2,054 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the transaction, the insider now directly owns 184,947 shares in the company, valued at $6,206,821.32. The trade was a 1.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 33,513 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.38, for a total value of $1,118,663.94. Following the completion of the sale, the chief executive officer now owns 33,502 shares of the company’s stock, valued at $1,118,296.76. This trade represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,097,578 shares of company stock worth $38,080,320. 17.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

A number of institutional investors have recently added to or reduced their stakes in HIMS. Crewe Advisors LLC purchased a new position in Hims & Hers Health during the fourth quarter worth approximately $28,000. Raleigh Capital Management Inc. lifted its position in Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 1,100 shares in 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. Smartleaf Asset Management LLC raised its position in Hims & Hers Health by 4,415.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after purchasing an additional 1,413 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Hims & Hers Health in the fourth quarter valued at $38,000. 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 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.