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 $67.00.
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Craig Hettenbach has given his Buy rating due to a combination of factors that suggest a strong potential for Hinge Health, Inc.’s stock to appreciate. The recent selloff in HNGE is seen as a technical correction rather than a reflection of any fundamental issues, providing an attractive entry point for investors. Hettenbach notes that the stock’s current valuation is discounted relative to its peers, and he believes that market estimates for the company’s future growth are conservative.
Furthermore, Hettenbach highlights the company’s recent customer wins and the potential for revenue growth, which he believes is underestimated by the market. He is optimistic about the impact of technology on scaling Hinge Health’s platform, which could lead to better-than-expected gross margins. Despite some investor concerns about the recent stock performance, Hettenbach anticipates a strong Q3 report and sees the company’s strategic initiatives, such as the shift to a consumption-based pricing model, as positive indicators for future performance.