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

Hims & Hers Health (NYSE:HIMS) had its target price boosted by research analysts at Piper Sandler from $24.00 to $35.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 12.64% from the company’s current price.

A number of other research analysts also recently weighed in on the company. BTIG Research assumed coverage on Hims & Hers Health in a report on Tuesday, January 7th. They issued a “buy” rating and a $35.00 target price on the stock. Needham & Company LLC raised their price objective on shares of Hims & Hers Health from $31.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America increased 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. Deutsche Bank Aktiengesellschaft boosted their price objective 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, TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Two investment 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 has a consensus rating of “Hold” and a consensus target price of $31.40.

Hims & Hers Health Stock Performance

NYSE HIMS opened at $40.06 on Tuesday. Hims & Hers Health has a one year low of $9.67 and a one year high of $72.98. The stock has a 50-day moving average of $35.45 and a 200 day moving average of $26.08. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 90.55 and a beta of 1.35.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $470.50 million. On average, equities analysts predict that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Hims & Hers Health

In related news, insider Soleil Boughton sold 4,152 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total transaction of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Dudum sold 33,513 shares of Hims & Hers Health stock in a transaction that occurred on Monday, December 2nd. The stock was 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 directly owns 33,502 shares in the company, valued at approximately $1,118,296.76. The trade was a 50.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,080,275 shares of company stock valued at $37,247,354. Corporate insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

Several institutional investors have recently bought and sold shares of HIMS. Crewe Advisors LLC bought a new position in shares of Hims & Hers Health in the 4th quarter valued at about $28,000. Raleigh Capital Management Inc. raised 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 valued at $29,000 after purchasing an additional 1,100 shares during the period. Blume Capital Management Inc. lifted its stake in shares of Hims & Hers Health by 100.0% in the 4th quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 600 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Hims & Hers Health by 4,415.6% in 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 period. Finally, Summit Securities Group LLC bought a new position in shares of Hims & Hers Health during the 4th quarter valued at approximately $38,000. 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.