In a report released today, Craig Hettenbach from Morgan Stanley maintained a Buy rating on Hinge Health, Inc. Class A, with a price target of $72.00.
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Craig Hettenbach has given his Buy rating due to a combination of factors, primarily focusing on the attractive valuation of Hinge Health, Inc. despite recent market concerns. The stock has experienced a decline following earnings, largely due to apprehensions surrounding the upcoming IPO lockup. However, Hettenbach highlights that the stock is trading at a significant discount compared to its peers in the SMID software sector, presenting a compelling entry point for investors.
Additionally, Hettenbach points out the company’s strong financial position, with substantial cash reserves and no debt, which provides flexibility for future growth opportunities. The positive investor sentiment regarding the company’s recent quarterly results and guidance, particularly in terms of billings and margin improvements, further supports the Buy rating. The expectation is that the stock will eventually align with the positive revisions in earnings estimates, and the fundamentals will outweigh the current technical pressures.
According to TipRanks, Hettenbach is a 4-star analyst with an average return of 4.1% and a 54.44% success rate.
In another report released on November 7, Stifel Nicolaus also maintained a Buy rating on the stock with a $44.49 price target.