BofA expects Hims & Hers will report Q3 revenue in-line with the Street, but calls deferred revenue “a greater swing factor than previous quarters” and calls the trajectory into Q4 “weak” after updating the firm’s model to reflect September sales data. The firm, which lowers its Q4 revenue forecast to $590M, now 6.5% below the Street, and lowers its full year revenue view below the low-end of the company’s guidance, reiterates an Underperform rating and $28 price target on the shares.
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