Morgan Stanley analyst Craig Hettenbach tells investors that the firm’s data reveals a year over year decline in monthly Hims & Hers app downloads for the first time, with 5% y/y web traffic growth in June, the weakest since March 2024. The firm says monthly app downloads are now 185,000, falling below the level seen prior to the launch of compounded GLP-1s. Morgan Stanley has an Equal Weight rating and $40 price target on shares of Hims & Hers.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HIMS:
- Is Hims & Hers (HIMS) Stock a Buy After the Recent Pullback? Here’s What Analysts Say
- Hims & Hers Health: Hold Rating Amidst Declining App Downloads and Slowing Web Traffic Growth
- “Expanding Horizons”: Hims & Hers (HIMS) Brings Affordable Weight Loss Program to Canada
- Morning News Wrap-Up: Wednesday’s Biggest Stock Market Stories!
- Hims & Hers rallies after announcing plans to enter Canada