Honest Company Inc (NASDAQ: HNST): Time To Buy Over The Next Few Months

In the last trading session, 1.72 million Honest Company Inc (NASDAQ:HNST) shares changed hands as the company’s beta touched 0.77. With the company’s per share price at $1.60 changed hands at $0.1 or 6.67% during last session, the market valuation stood at $152.75M. HNST’s last price was a discount, traded about -134.37% off its 52-week high of $3.75. The share price had its 52-week low at $1.06, which suggests the last value was 33.75% up since then. When we look at Honest Company Inc’s average trading volume, we note the 10-day average is 0.92 million shares, with the 3-month average coming to 679.61K.

Analysts gave the Honest Company Inc (HNST) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended HNST as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Honest Company Inc’s EPS for the current quarter is expected to be -$0.08.

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Honest Company Inc (NASDAQ:HNST) trade information

Instantly HNST was in green as seen at the end of in last trading. With action 14.70%, the performance over the past five days has been green. The jump to weekly highs of 1.6400 on Monday, 11/20/23 added 6.67% to the stock’s daily price. The company’s shares are showing year-to-date downside of -46.84%, with the 5-day performance at 14.70% in the green. However, in the 30-day time frame, Honest Company Inc (NASDAQ:HNST) is 29.03% up. Looking at the short shares, we see there were 3.24 million shares sold at short interest cover period of 6.69 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.62, meaning bulls need an upside of 1.23% from its current market value. According to analyst projections, HNST’s forecast low is $1.00 with $2.00 as the target high. To hit the forecast high, the stock’s price needs a -25.0% plunge from its current level, while the stock would need to tank 37.5% for it to hit the projected low.

Honest Company Inc (HNST) estimates and forecasts

Data shows that the Honest Company Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 0.63% over the past 6 months, a -6.38% in annual growth rate that is considerably lower than the industry average of 10.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Honest Company Inc will rise 42.90%, while the growth in revenue is estimated to hit 50.00% for the next quarter. Year-over-year growth is forecast to reach 7.80% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $84.13 million. 1 analysts are of the opinion that Honest Company Inc’s revenue for the quarter ending Mar 2024 will be $81.5 million. The company’s revenue for the corresponding quarters a year ago was $81.86 million and $71.52 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 2.80%. The estimates for the next quarter sales put growth at 14.00%.

The 2023 estimates are for Honest Company Inc earnings to increase by 5.66%, but the outlook for the next 5-year period is at 46.40% per year.

HNST Dividends

Honest Company Inc is expected to release its next quarterly earnings report on November 08.

Honest Company Inc (NASDAQ:HNST)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 9.46% of Honest Company Inc shares while 56.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.13%. There are 56.25% institutions holding the Honest Company Inc stock share, with Institutional Venture Management XIII, LLC the top institutional holder. As of Jun 29, 2023, the company held 11.21% of the shares, roughly 10.47 million HNST shares worth $17.6 million.

Portolan Capital Management, LLC holds the second largest percentage of outstanding shares, with 6.24% or 5.83 million shares worth $9.79 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Fidelity Strategic Advisors Small-Mid Cap Fund and Meridian Contrarian Fund. With 2.79 million shares estimated at $4.68 million under it, the former controlled 2.98% of total outstanding shares. On the other hand, Meridian Contrarian Fund held about 2.94% of the shares, roughly 2.75 million shares worth around $4.61 million.

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