Bank of America Forecasts Strong Price Appreciation for Hims & Hers Health (NYSE:HIMS) Stock

Hims & Hers Health (NYSE:HIMS - Free Report) had its price target raised by Bank of America from $18.00 to $21.00 in a report issued on Thursday morning,Benzinga reports. They currently have an underperform rating on the stock.

A number of other analysts have also recently weighed in on HIMS. Canaccord Genuity Group upped their price target on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday. Piper Sandler upped their price target on Hims & Hers Health from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. TD Cowen reiterated a "buy" rating and issued a $28.00 price target on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Citigroup cut Hims & Hers Health from a "neutral" rating to a "sell" rating and upped their price target for the company from $24.00 to $25.00 in a research report on Friday, January 10th. Finally, Needham & Company LLC upped their price target on Hims & Hers Health from $28.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $28.53.

Hims & Hers Health Stock Down 26.1 %

Shares of HIMS stock traded down $17.32 during trading hours on Thursday, reaching $49.10. 88,654,898 shares of the company's stock were exchanged, compared to its average volume of 17,960,670. The stock has a market capitalization of $10.73 billion, a P/E ratio of 111.58 and a beta of 1.35. Hims & Hers Health has a fifty-two week low of $9.25 and a fifty-two week high of $72.98. The business has a fifty day moving average price of $34.66 and a 200-day moving average price of $25.48.

Insiders Place Their Bets

In other Hims & Hers Health news, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $58.27, for a total value of $7,465,960.29. Following the transaction, the chief executive officer now owns 97,687 shares of the company's stock, valued at approximately $5,692,221.49. This represents a 56.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Soleil Boughton sold 2,343 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total value of $70,055.70. Following the completion of the transaction, the insider now directly owns 165,254 shares in the company, valued at $4,941,094.60. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,184,611 shares of company stock valued at $40,338,442. 17.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hims & Hers Health

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

Hims & Hers Health Company Profile

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.