Hims & Hers price target raised to $30 from $25 at Citi

Citi analyst Daniel Grosslight raised the firm’s price target on Hims & Hers to $30 from $25 and keeps a Sell rating on the shares following the Q1 report. The results “were a bit of a Rorschach test,” as bulls will point to the significant outperformance this quarter as a GLP-1 induced increase in revenue offset somewhat below consensus net subscriber adds, the analyst tells investors in a research note. However, the bears will retort the “lackluster” Q2 guidance puts the onus on the second half of the year to do the heavy sales lifting while incremental margins are waning, says Citi. The firm is e “somewhere in the middle.”