Bank of America Issues Positive Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Key Points

• Bank of America raised its price target on Hims & Hers to $25 (from $21) but kept a "neutral" rating, implying only about a 2% upside from the current share price (~$24.50).
• Analyst sentiment is mixed — a few upgrades (Needham to "buy" with a $30 target, Barclays to "overweight" at $29) but the consensus remains a "Hold" (3 buys, 13 holds, 1 sell) with an average target of $31.86.
• Recent fundamentals show a quarter with an EPS beat ($0.08 vs $0.02 est.) and 28.4% revenue growth despite a slight revenue miss, while insiders have been net sellers (~129,889 shares, $3.23M in 90 days) and institutions own ~63.5% of the stock.

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its price objective lifted by Bank of America from $21.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price target would suggest a potential upside of 2.05% from the company's current price.

Several other analysts also recently weighed in on HIMS. Needham & Company LLC raised shares of Hims & Hers Health from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a research note on Monday, March 9th. Barclays increased their price objective on Hims & Hers Health from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, March 11th. Citigroup upgraded shares of Hims & Hers Health from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $13.25 to $24.00 in a report on Tuesday, March 10th. Truist Financial restated a "hold" rating and issued a $18.00 price objective (down from $37.00) on shares of Hims & Hers Health in a report on Tuesday, February 24th. Finally, Leerink Partners upped their price objective on shares of Hims & Hers Health from $17.50 to $25.00 and gave the stock a "market perform" rating in a report on Monday, March 16th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $31.86.

Hims & Hers Health Trading Up 14.7%

Shares of Hims & Hers Health stock opened at $24.50 on Thursday. The stock has a market capitalization of $5.58 billion, a PE ratio of 48.03, a price-to-earnings-growth ratio of 2.03 and a beta of 2.32. The stock has a 50 day moving average price of $19.53 and a two-hundred day moving average price of $32.70. Hims & Hers Health has a 52 week low of $13.74 and a 52 week high of $70.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.70 and a current ratio of 1.90.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.06. Hims & Hers Health had a return on equity of 22.48% and a net margin of 5.47%.The firm had revenue of $617.82 million for the quarter, compared to the consensus estimate of $619.48 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company's revenue was up 28.4% compared to the same quarter last year. As a group, equities analysts anticipate that Hims & Hers Health will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, insider Irene Becklund sold 5,529 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $24.69, for a total value of $136,511.01. Following the completion of the sale, the insider owned 8,752 shares in the company, valued at approximately $216,086.88. This represents a 38.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Oluyemi Okupe sold 9,217 shares of Hims & Hers Health stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $23.77, for a total value of $219,088.09. Following the completion of the sale, the chief financial officer directly owned 318,789 shares in the company, valued at approximately $7,577,614.53. The trade was a 2.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 129,889 shares of company stock worth $3,230,986. 13.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Hims & Hers Health by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 20,925,666 shares of the company's stock valued at $679,456,000 after buying an additional 1,407,651 shares during the last quarter. Capital World Investors boosted its stake in shares of Hims & Hers Health by 1.2% during the third quarter. Capital World Investors now owns 18,783,194 shares of the company's stock valued at $1,065,399,000 after purchasing an additional 223,892 shares during the period. Farallon Capital Management LLC boosted its stake in shares of Hims & Hers Health by 30.8% during the third quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company's stock valued at $609,561,000 after purchasing an additional 2,533,271 shares during the period. State Street Corp boosted its stake in shares of Hims & Hers Health by 1.8% during the fourth quarter. State Street Corp now owns 7,305,525 shares of the company's stock valued at $237,210,000 after purchasing an additional 132,311 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Hims & Hers Health by 12.4% during the fourth quarter. Geode Capital Management LLC now owns 5,509,764 shares of the company's stock valued at $183,485,000 after purchasing an additional 608,950 shares during the period. Hedge funds and other institutional investors own 63.52% of the company's stock.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients' doorsteps.

The company's product portfolio addresses key areas of men's and women's health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.

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