Analyst Maria Ripps of Canaccord Genuity maintained a Buy rating on Hims & Hers Health, retaining the price target of $68.00.
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Maria Ripps has given her Buy rating due to a combination of factors that highlight the potential growth and strategic initiatives of Hims & Hers Health. The company is making significant investments in its infrastructure, particularly in diagnostic and supply chain capabilities, to enhance personalization across its platform. This includes the acquisition of a lab testing facility and the launch of new treatments, which are expected to unlock new market opportunities by helping consumers identify previously unknown health conditions.
Additionally, Hims & Hers Health’s weight loss segment shows promising trends, with a substantial opportunity to scale given the large number of individuals facing weight-related challenges. The company’s platform allows for easy engagement with providers, which is a key differentiator. Despite some short-term impacts on core growth due to strategic transitions in the sexual health segment, the company is setting a foundation for stronger retention and long-term growth. The robust performance in other categories such as dermatology and oral weight loss further supports the potential for revenue growth acceleration.
In another report released on August 5, BTIG also reiterated a Buy rating on the stock with a $85.00 price target.
HIMS’s price has also changed moderately for the past six months – from $59.180 to $48.330, which is a -18.33% drop .