Honest (NASDAQ:HNST) Given New $3.00 Price Target at Morgan Stanley

Honest (NASDAQ:HNST) had its price target dropped by investment analysts at Morgan Stanley from $4.25 to $3.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 16.50% from the stock’s previous close.

HNST has been the subject of a number of other reports. Zacks Research lowered shares of Honest from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 6th. Telsey Advisory Group dropped their price objective on shares of Honest from $6.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, November 6th. B. Riley restated a “buy” rating on shares of Honest in a report on Thursday, November 6th. Weiss Ratings cut shares of Honest from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, Lake Street Capital lowered Honest from a “buy” rating to a “hold” rating and set a $3.00 price target for the company. in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.10.

Honest Price Performance

Shares of Honest stock traded down $0.10 during trading on Wednesday, reaching $2.58. 1,105,812 shares of the stock traded hands, compared to its average volume of 3,252,660. Honest has a 52-week low of $2.31 and a 52-week high of $8.97. The business has a fifty day simple moving average of $3.51 and a two-hundred day simple moving average of $4.22. The company has a market capitalization of $287.86 million, a price-to-earnings ratio of 43.42 and a beta of 2.28.

Honest (NASDAQ:HNST) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Honest had a return on equity of 3.86% and a net margin of 1.85%.The company had revenue of $92.57 million during the quarter, compared to analyst estimates of $99.43 million. Honest has set its FY 2025 guidance at EPS. On average, research analysts predict that Honest will post -0.07 earnings per share for the current fiscal year.

Institutional Trading of Honest

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Honest by 138.2% during the 1st quarter. Bank of New York Mellon Corp now owns 899,726 shares of the company’s stock worth $4,229,000 after acquiring an additional 522,002 shares in the last quarter. Cerity Partners LLC purchased a new stake in Honest in the first quarter valued at about $90,000. Victory Capital Management Inc. raised its position in shares of Honest by 98.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,073,471 shares of the company’s stock valued at $14,445,000 after purchasing an additional 1,527,080 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Honest by 68.2% during the first quarter. GSA Capital Partners LLP now owns 272,284 shares of the company’s stock worth $1,280,000 after buying an additional 110,408 shares during the period. Finally, XTX Topco Ltd grew its stake in Honest by 39.1% during the 1st quarter. XTX Topco Ltd now owns 124,672 shares of the company’s stock valued at $586,000 after purchasing an additional 35,021 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.