The Honest Company, Inc. (NASDAQ:HNST) Stock Has Consensus Price Target of $4.84 According to Analysts

Key Points

• Analyst sentiment is neutral: Nine analysts give Honest Company an average “Hold” rating, with a consensus 12-month price target of $4.84.
• Quarterly results exceeded expectations: Honest reported earnings of $0.04 per share versus the $0.01 consensus estimate and revenue of $80.19 million, ahead of the $77.83 million forecast.
• Shares opened at $5.07, within a 12-month range of $2.07 to $6.01; insiders have sold approximately $1.5 million of stock over the past 90 days, while institutional investors own 45.54% of the company.

Shares of The Honest Company, Inc. (NASDAQ:HNST - Get Free Report) have earned an average recommendation of "Hold" from the nine research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.84.

HNST has been the subject of several research analyst reports. Northland Securities set a $5.50 price target on shares of Honest in a research report on Thursday, August 6th. Morgan Stanley lifted their price target on shares of Honest from $3.40 to $5.70 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Honest from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Alliance Global Partners reissued a "buy" rating on shares of Honest in a research note on Thursday, August 6th. Finally, Freedom Capital upgraded Honest from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th.

Insider Transactions at Honest

In other Honest news, CEO Carla Vernón sold 117,893 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total transaction of $588,286.07. Following the completion of the sale, the chief executive officer owned 3,828,558 shares of the company's stock, valued at approximately $19,104,504.42. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Brendan Sheehey sold 9,664 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $4.99, for a total value of $48,223.36. Following the sale, the general counsel owned 706,224 shares of the company's stock, valued at $3,524,057.76. This represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 294,149 shares of company stock valued at $1,503,306 in the last ninety days. Company insiders own 9.40% of the company's stock.

Institutional Trading of Honest

Institutional investors and hedge funds have recently bought and sold shares of the business. Green Alpha Advisors LLC increased its position in shares of Honest by 30.1% in the third quarter. Green Alpha Advisors LLC now owns 387,992 shares of the company's stock worth $1,990,000 after acquiring an additional 89,720 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Honest by 45.8% during the 2nd quarter. Allworth Financial LP now owns 7,038 shares of the company's stock valued at $26,000 after acquiring an additional 2,211 shares in the last quarter. Corient Private Wealth LP acquired a new position in shares of Honest during the 2nd quarter valued at $87,000. Amundi acquired a new position in shares of Honest during the 2nd quarter valued at $44,000. Finally, Bank of America Corp DE acquired a new position in shares of Honest during the 2nd quarter valued at $715,000. Institutional investors and hedge funds own 45.54% of the company's stock.

Honest Price Performance

NASDAQ HNST opened at $5.07 on Thursday. Honest has a 12 month low of $2.07 and a 12 month high of $6.01. The company has a 50-day moving average of $5.30 and a 200-day moving average of $4.13. The company has a market cap of $558.11 million, a P/E ratio of -46.09 and a beta of 2.32.

Honest (NASDAQ:HNST - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. Honest had a negative net margin of 3.56% and a positive return on equity of 4.31%. The business had revenue of $80.19 million for the quarter, compared to analyst estimates of $77.83 million. As a group, equities research analysts anticipate that Honest will post 0.05 EPS for the current year.

Honest Company Profile

The Honest Company, Inc develops and sells consumer products focused on baby care, personal care, beauty, and household needs. Its product portfolio includes diapers, wipes, skin care products, bath and body items, personal care products, and household cleaning solutions.

Founded in 2011 by Jessica Alba and Brian Lee, the company was established with an emphasis on product transparency, responsible ingredient selection, and accessible wellness-oriented goods. Honest products are sold through the company's direct-to-consumer platform and through retail partners, primarily serving customers in the United States.

The Honest Company is headquartered in Los Angeles, California, and trades on the Nasdaq under the symbol HNST.

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