Needham & Company LLC Issues Positive Forecast for Hims & Hers Health (NYSE:HIMS) Stock Price

Hims & Hers Health (NYSE:HIMS - Get Free Report) had its price objective upped by Needham & Company LLC from $61.00 to $65.00 in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 23.05% from the company's current price.

Several other equities analysts also recently weighed in on the company. Leerink Partners raised their price objective on Hims & Hers Health from $24.00 to $40.00 and gave the company a "market perform" rating in a research note on Tuesday, February 25th. Canaccord Genuity Group raised their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Bank of America increased their price target on shares of Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded Hims & Hers Health from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, UBS Group reissued a "mixed" rating on shares of Hims & Hers Health in a report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Hims & Hers Health presently has an average rating of "Hold" and an average target price of $38.00.

Hims & Hers Health Stock Down 1.5%

NYSE:HIMS traded down $0.79 during trading hours on Wednesday, reaching $52.82. 36,727,389 shares of the company's stock were exchanged, compared to its average volume of 20,502,744. Hims & Hers Health has a 1-year low of $13.47 and a 1-year high of $72.98. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 120.05 and a beta of 2.09. The company has a 50-day moving average of $41.26 and a 200 day moving average of $36.68.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business's quarterly revenue was up 110.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Research analysts forecast that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Oluyemi Okupe sold 11,581 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $52.98, for a total transaction of $613,561.38. Following the completion of the sale, the chief financial officer now directly owns 39,153 shares of the company's stock, valued at $2,074,325.94. The trade was a 22.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Dudum sold 128,127 shares of Hims & Hers Health stock in a transaction on Monday, March 17th. The shares were sold at an average price of $33.98, for a total value of $4,353,755.46. Following the completion of the transaction, the chief executive officer now owns 173,655 shares in the company, valued at $5,900,796.90. The trade was a 42.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 617,367 shares of company stock valued at $25,227,888. Insiders own 13.71% of the company's stock.

Institutional Investors Weigh In On Hims & Hers Health

A number of large investors have recently modified their holdings of HIMS. Farallon Capital Management LLC boosted its holdings in Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company's stock worth $202,556,000 after acquiring an additional 8,364,000 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Hims & Hers Health by 192.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company's stock valued at $152,436,000 after purchasing an additional 4,145,305 shares during the period. Vanguard Group Inc. grew its holdings in Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after purchasing an additional 2,020,722 shares in the last quarter. Nuveen LLC acquired a new stake in Hims & Hers Health during the 1st quarter valued at $58,403,000. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in Hims & Hers Health during the 4th quarter worth $41,104,000. Institutional investors and hedge funds 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.