Needham & Company LLC Reiterates Buy Rating for Hims & Hers Health (NYSE:HIMS)

Needham & Company LLC reaffirmed their buy rating on shares of Hims & Hers Health (NYSE:HIMS - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $61.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Bank of America raised their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. Truist Financial cut their price target on Hims & Hers Health from $39.00 to $33.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Leerink Partners raised their target price on shares of Hims & Hers Health from $24.00 to $40.00 and gave the company a "market perform" rating in a report on Tuesday, February 25th. Citigroup reduced their price target on shares of Hims & Hers Health from $27.00 to $25.00 and set a "sell" rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler raised their price objective on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.67.

Hims & Hers Health Stock Performance

Hims & Hers Health stock traded up $2.61 during midday trading on Tuesday, hitting $52.08. 85,963,077 shares of the company's stock were exchanged, compared to its average volume of 17,822,793. The firm's 50 day simple moving average is $32.52 and its 200 day simple moving average is $31.96. Hims & Hers Health has a 12-month low of $11.64 and a 12-month high of $72.98. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 118.35 and a beta of 1.84.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. The firm had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. Hims & Hers Health's quarterly revenue was up 110.7% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. On average, equities research analysts forecast that Hims & Hers Health will post 0.29 EPS for the current fiscal year.

Insider Activity at Hims & Hers Health

In other news, COO Melissa Baird sold 33,333 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $25.78, for a total transaction of $859,324.74. Following the completion of the sale, the chief operating officer now directly owns 805,083 shares in the company, valued at $20,755,039.74. This represents a 3.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Soleil Boughton sold 4,152 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the transaction, the insider now directly owns 157,345 shares in the company, valued at $9,549,268.05. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,500 shares of company stock worth $25,790,311. 17.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hims & Hers Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in Hims & Hers Health during the 4th quarter worth approximately $28,000. Raleigh Capital Management Inc. increased its position in shares of Hims & Hers Health by 1,100.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,100 shares in the last quarter. Blume Capital Management Inc. raised 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 acquiring an additional 600 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company's stock valued at $36,000 after acquiring an additional 1,413 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Hims & Hers Health during the 4th quarter worth $38,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

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.