Analyst Maria Ripps from Canaccord Genuity maintained a Buy rating on Hims & Hers Health (HIMS – Research Report) and keeping the price target at $68.00.
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Maria Ripps has given her Buy rating due to a combination of factors that suggest a promising outlook for Hims & Hers Health. Despite the recent termination of the partnership with Novo Nordisk, which initially caused a significant drop in the company’s stock price, Ripps believes that the company’s long-term growth potential remains strong. The analyst highlights that the company’s guidance for fiscal year 2025 is still achievable even without the Novo partnership, as it was based on a clear understanding of the market conditions prior to the collaboration.
Furthermore, Maria Ripps points out that Hims & Hers has several strategic initiatives in place to drive future growth. These include new product launches, increased marketing efforts, and potential international expansion, all of which could accelerate the company’s core growth in the latter half of 2025 and beyond. Additionally, the current valuation of the company, with its forward EV/revenue multiple compressing significantly, presents a compelling risk-reward scenario for investors. Overall, Ripps’s analysis suggests confidence in the company’s ability to navigate current challenges and capitalize on future opportunities.
Based on the recent corporate insider activity of 233 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.