Hims & Hers Health (HIMS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Craig Hettenbach from Morgan Stanley maintained a Hold rating on the stock and has a $40.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Craig Hettenbach’s rating is based on a combination of factors including the recent trends in app downloads and sales growth for Hims & Hers Health. While there was a 25% year-over-year increase in app downloads in April, this growth rate has slowed from a high of 47% in February, indicating a potential stabilization in user acquisition. Additionally, third-party sales data suggests a 67% year-over-year growth midway through the second quarter, which is slightly below the company’s guidance of 71% growth.
These indicators suggest that while the company is experiencing growth, it is not meeting its own projections, which could be a cause for concern. Furthermore, the company’s recent guidance for second-quarter revenue is 4.5% below market expectations, which may also contribute to the Hold rating. Overall, the mixed performance in key metrics like app downloads and sales growth, along with cautious revenue guidance, supports a more conservative investment stance.
In another report released on May 14, Truist Financial also maintained a Hold rating on the stock with a $45.00 price target.