Hims & Hers price target lowered to $7 from $10 at Piper Sandler

Piper Sandler lowered the firm’s price target on Hims & Hers to $7 from $10 and keeps a Neutral rating on the shares following Q3 results. While management continues to execute well on the top line, beating Street estimates and raising guidance yet again, margin trajectory continues to track in line, and with ongoing customer engagement and pricing investments, management is still not delivering profitability. the firm argues.