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Priya Nigam

BofA Downgrades Honest Company On Q4 Miss, Guidance

Honest Company BofA Securities Nasdaq United States

Honest Company Inc’s (NASDAQ:HNST) fourth-quarter earnings significantly missed the consensus estimates and management guided to a 15% decline in sales for the first quarter of 2022 and to flat sales and gross margins for fiscal 2022, according to BofA Securities.

The Honest Company Analyst: Bryan Spillane downgraded the rating for Honest Company from Neutral to Underperform, while reducing the price target from $10 to $5.

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