Truist raised the firm’s price target on Hims & Hers to $23 from $18 and keeps a Hold rating on the shares. The firm is updating its model to reflect insights from Truist Card Data along with disclosures from Q1 earnings call, the analyst tells investors in a research note. The firm adds that Q2 revenues for Hims are likely to benefit from deferred revenue associated with prior billings and transactions, though it is also assuming the vast majority of compounded GLP-1 subscribers either switch to branded GLP-1s or discontinue therapy by 2026-end.
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Read More on HIMS:
- Hims & Hers issues convertible notes and capped calls
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