Analyst Craig Hettenbach of Morgan Stanley maintained a Buy rating on Hinge Health, Inc. Class A, retaining the price target of $67.00.
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Craig Hettenbach has given his Buy rating due to a combination of factors that highlight Hinge Health, Inc.’s strong market position and growth potential. The company’s app downloads increased by 40% year-over-year in the third quarter, significantly outpacing its nearest competitor by a factor of four. This substantial growth in app downloads suggests a positive trend in acquiring new members, which is a crucial indicator of the company’s expanding user base.
Moreover, the data from the AlphaWise team supports the notion of Hinge Health’s growing momentum in the market, reinforcing earlier analyses that pointed to potential growth opportunities. The company’s leadership in the musculoskeletal (MSK) sector is further solidified by its widening lead over competitors, as evidenced by the app download figures. These factors collectively contribute to a favorable outlook for Hinge Health, Inc., justifying the Buy rating assigned by Hettenbach.
In another report released on October 8, Evercore ISI also maintained a Buy rating on the stock with a $65.00 price target.