Is Honest Co. a Buy After Reporting Better Than Expected Sales Results?

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The stock surged in price on November 11 after the company beat third-quarter consensus sales estimate by 2.7%. However, it has lost 36.8% over the past six months to close yesterday’s trading session at $9.53.

HNST’s digital sales fell 11% year-over-year to $39.11 million in the third quarter, and its losses increased significantly. Furthermore, its near-term prospects look bleak because its business could continue to be impacted by ongoing supply chain issues.

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