Analysts Set The Honest Company, Inc. (NASDAQ:HNST) Target Price at $6.93

Shares of The Honest Company, Inc. (NASDAQ:HNST) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.93.

A number of analysts recently issued reports on HNST shares. Northland Securities raised their price target on Honest from $7.50 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. B. Riley raised their target price on shares of Honest from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Loop Capital cut shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target for the company. in a research note on Tuesday, December 17th. Alliance Global Partners upped their price objective on Honest from $5.75 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $7.00 target price on shares of Honest in a research report on Wednesday, February 19th.

Honest Stock Up 2.0 %

Honest stock opened at $5.68 on Friday. Honest has a twelve month low of $2.40 and a twelve month high of $8.97. The company’s 50-day moving average price is $6.33 and its 200-day moving average price is $5.44. The company has a market cap of $573.46 million, a PE ratio of -142.00 and a beta of 2.43.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $99.84 million for the quarter, compared to the consensus estimate of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. As a group, sell-side analysts expect that Honest will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Honest

In other Honest news, Director Jessica Warren sold 465,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the transaction, the director now directly owns 1,170,058 shares in the company, valued at $8,833,937.90. This represents a 28.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Honest

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in Honest during the fourth quarter worth $26,000. Zacks Investment Management bought a new position in shares of Honest in the 3rd quarter worth $37,000. Creative Planning purchased a new stake in shares of Honest during the 3rd quarter worth $39,000. Wealth Enhancement Advisory Services LLC bought a new stake in Honest during the third quarter valued at about $40,000. Finally, New York State Teachers Retirement System purchased a new position in Honest in the fourth quarter valued at about $52,000. 45.54% of the stock is currently owned by institutional investors.

About Honest

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.