Honest (NASDAQ:HNST) Price Target Lowered to $8.00 at Telsey Advisory Group

Honest (NASDAQ:HNSTGet Rating) had its price objective cut by Telsey Advisory Group from $12.00 to $8.00 in a report published on Monday, MarketBeat reports. They currently have an outperform rating on the stock. Telsey Advisory Group also issued estimates for Honest’s Q3 2022 earnings at ($0.09) EPS, Q4 2022 earnings at ($0.01) EPS, FY2022 earnings at ($0.37) EPS and FY2023 earnings at ($0.25) EPS.

Separately, Loop Capital downgraded shares of Honest from a buy rating to a hold rating and lowered their target price for the stock from $5.00 to $3.00 in a report on Thursday, June 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $6.79.

Honest Stock Performance

Honest stock opened at $4.13 on Monday. The business’s fifty day moving average is $3.35 and its two-hundred day moving average is $4.23. The firm has a market cap of $381.68 million, a P/E ratio of -9.60 and a beta of 0.92. Honest has a 52 week low of $2.54 and a 52 week high of $11.65.

Honest (NASDAQ:HNSTGet Rating) last issued its quarterly earnings data on Friday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Honest had a negative net margin of 12.51% and a negative return on equity of 22.48%. The business had revenue of $78.50 million during the quarter, compared to analyst estimates of $75.74 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Honest’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Honest will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Honest

Institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC acquired a new position in shares of Honest in the fourth quarter valued at $150,000. AlpInvest Partners B.V. bought a new stake in shares of Honest in the fourth quarter valued at about $2,087,000. Champlain Investment Partners LLC boosted its position in shares of Honest by 38.2% in the fourth quarter. Champlain Investment Partners LLC now owns 2,549,060 shares of the company’s stock valued at $20,622,000 after acquiring an additional 704,415 shares during the period. Wade G W & Inc. bought a new stake in shares of Honest in the fourth quarter valued at about $92,000. Finally, Bayesian Capital Management LP bought a new stake in Honest during the fourth quarter worth about $177,000. 76.60% of the stock is currently owned by institutional investors and hedge funds.

About Honest

(Get Rating)

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.

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