Honest Company price target lowered to $8 from $9.50 at Northland

Northland lowered the firm’s price target on Honest Company (HNST) to $8 from $9.50 and keeps an Outperform rating on the shares. This was “another strong quarter” with topline results exceeding expectations and gross margin remaining elevated, though the decision to reaffirm full-year guidance despite the outperformance suggests a more challenging Q2 and pull forward of shipments from Q2 into Q1, followed by more stable growth in the back half of the year, the analyst tells investors.