Why The Honest Co Stock Is Falling Today

The Honest Co Inc 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.