Needham analyst Ryan MacDonald reiterated a Buy rating on Hims & Hers Health (HIMS – Research Report) today and set a price target of $65.00.
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Ryan MacDonald has given his Buy rating due to a combination of factors, primarily focusing on Hims & Hers Health’s strategic acquisition of ZA V A, a direct-to-consumer telemedicine platform in Europe. This acquisition is expected to significantly enhance Hims & Hers Health’s presence in key European markets such as Germany and France, where the company previously had no exposure, and strengthen its operations in the UK.
MacDonald believes that the acquisition will serve as a foundation for further expansion across Western Europe, leveraging Hims & Hers Health’s existing solutions that are well-suited for the European demographic. The potential for international markets to drive sustained growth is a key reason for the Buy rating, and as a result, the price target has been raised to $65, reflecting confidence in the company’s long-term growth prospects.