The Honest Company, Inc. (NASDAQ:HNST) Stock Has Consensus Price Target of $5.42

by · The Markets Daily

Shares of The Honest Company, Inc. (NASDAQ:HNST – Get Free Report) have been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $5.42.

Several analysts have issued reports on the company. B. Riley Financial restated a “buy” rating and issued a $5.50 target price (up from $5.00) on shares of Honest in a research note on Friday, November 6th. Morgan Stanley lifted their price objective on Honest from $3.40 to $5.70 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Freedom Broker cut Honest from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 6th. Telsey Advisory Group lifted their target price on shares of Honest from $4.00 to $5.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Finally, Northland Securities set a $5.50 price target on shares of Honest in a research note on Thursday, August 6th.

Get Our Latest Stock Analysis on Honest

Insider Buying and Selling

In other news, General Counsel Brendan Sheehey sold 9,664 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $4.99, for a total value of $48,223.36. Following the sale, the general counsel directly owned 706,224 shares of the company’s stock, valued at approximately $3,524,057.76. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Carla Vernón sold 117,893 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $4.99, for a total transaction of $588,286.07. Following the completion of the transaction, the chief executive officer owned 3,828,558 shares of the company’s stock, valued at $19,104,504.42. This trade represents a 2.99% 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 a total of 150,854 shares of company stock valued at $752,853 in the last ninety days. 9.40% of the stock is owned by company insiders.

Institutional Trading of Honest

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP purchased a new position in shares of Honest during the 2nd quarter valued at $26,000. Legal & General Group Plc bought a new stake in shares of Honest during the 2nd quarter worth $36,000. Amundi purchased a new position in Honest in the second quarter worth $44,000. Northwestern Mutual Wealth Management Co. purchased a new position in Honest in the second quarter worth $56,000. Finally, State of Wyoming bought a new position in Honest in the second quarter valued at $75,000. Institutional investors own 45.54% of the company’s stock.

Honest Price Performance

NASDAQ HNST opened at $5.10 on Monday. The stock has a market capitalization of $556.31 million, a price-to-earnings ratio of 7.39 and a beta of 2.48. Honest has a one year low of $2.07 and a one year high of $6.01. The business’s fifty day moving average is $5.09 and its 200-day moving average is $3.86.

Honest (NASDAQ:HNST – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.03 earnings per share for the quarter. Honest had a net margin of 23.47% and a return on equity of 5.10%. The firm had revenue of $84.61 million during the quarter, compared to the consensus estimate of $80.79 million. Research analysts expect that Honest will post 0.06 EPS for the current fiscal year.

Honest Company Profile

(Get Free Report)

The Honest Company, founded in 2011 by Jessica Alba and entrepreneur Brian Lee, develops consumer products for families with an emphasis on ingredient transparency and thoughtfully designed everyday essentials. The company is headquartered in Los Angeles, California. Its products include disposable diapers and wipes, baby and personal-care items, and household cleaning products. Honest sells through its website and retail partners, serving customers primarily in the United States and Canada. Carla Vernón became the company’s chief executive officer in 2023.

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