The Honest Co Inc (NASDAQ:HNST) is trading lower Friday morning after the company reported worse-than-expected financial results.
The Honest Co said fourth–quarter revenue grew 3% year-over-year to $80.38 million, which came in below the $84.59 billion estimate. The company reported an earnings loss of 10 cents per share, which was worse than the estimate for a loss of 6 cents per share.
The Honest Co expects full year 2022 revenue to be flat on a year-over-year basis.
Analyst Assessment: Several analyst adjusted ratings and price targets following the company’s results.
- Telsey Advisory Group analyst Dana Telsey maintained The Honest Co with an Outperform rating and lowered the price target from $18 to $12.
- Jefferies analyst Stephanie Wissink downgraded The Honest Co from a Buy rating to a Hold rating and lowered the price target from $11 to $5.
- Guggenheim analyst Laurent Grandet downgraded The Honest Co from a Buy rating to a Neutral rating.
- Morgan Stanley analyst Dara Mohsenian maintained The Honest Co with an Equal-Weight rating and lowered the price target from $9 to $8.25.
See Also: 34 Stocks Moving in Friday’s Pre-Market Session
HNST 52-Week Range: $5.01 – $23.88
The stock was down 18.4% at time of publication.
Photo: courtesy of The Honest Co.