In a report released yesterday, David Larsen from BTIG maintained a Buy rating on Hims & Hers Health, with a price target of $85.00.
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David Larsen has given his Buy rating due to a combination of factors that highlight Hims & Hers Health’s strong performance and growth potential. The company reported impressive third-quarter results, with revenue significantly exceeding expectations and showing a robust year-over-year increase. This financial strength is supported by the growing demand for weight management solutions, particularly personalized GLP-1s, which have seen a substantial rise in membership.
Furthermore, Hims & Hers Health is actively expanding its international presence and diversifying its offerings. The company’s strategic discussions with Novo Nordisk and its expansion into new markets like Canada, Brazil, and Europe demonstrate its commitment to growth. Additionally, the company’s focus on comprehensive health solutions, including early cancer detection and other proactive health measures, aligns with its long-term revenue and EBITDA goals. These initiatives, along with competitive pricing strategies and sourcing from FDA-approved suppliers, reinforce the company’s potential for sustained growth and market expansion.
Based on the recent corporate insider activity of 221 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HIMS in relation to earlier this year.