Analyst Craig Hettenbach from Morgan Stanley maintained a Hold rating on Hims & Hers Health (HIMS – Research Report) and keeping the price target at $60.00.
Craig Hettenbach has given his Hold rating due to a combination of factors related to the performance and growth dynamics of Hims & Hers Health. The company has shown significant growth in app downloads and web traffic, particularly in February, with app downloads increasing by 47% year-over-year and web traffic by 18%. This growth is primarily driven by the Hers platform, which saw a remarkable 212% increase in downloads compared to a modest 4% for the Hims platform.
Despite this positive momentum, there are ongoing challenges in the weight loss segment that require attention. The competitive landscape in this area is evolving, which could impact the company’s future performance. Additionally, while app downloads have increased, there was a slight month-over-month decline, although it was better than the previous year’s performance. These mixed signals contribute to the Hold rating, as the company shows potential but also faces uncertainties that could affect its growth trajectory.
According to TipRanks, Hettenbach is ranked #1726 out of 9369 analysts.
In another report released on March 5, Leerink Partners also reiterated a Hold rating on the stock with a $40.00 price target.