Maria Ripps, an analyst from Canaccord Genuity, maintained the Buy rating on Hims & Hers Health (HIMS – Research Report). The associated price target was raised to $68.00.
Maria Ripps has given her Buy rating due to a combination of factors that highlight the promising growth trajectory of Hims & Hers Health. One major catalyst is the recent Super Bowl advertisement promoting their weight loss products, which led to a significant increase in website traffic. This surge in visibility is expected to strengthen their brand as a leading digital health platform, potentially boosting key operating metrics over time.
Additionally, the confirmation of Robert F. Kennedy Jr. as Health and Human Services Secretary is seen as beneficial for the company, given his supportive stance on telehealth services. The broader regulatory environment appears favorable, which could allow Hims to maintain growth, particularly as they navigate the challenges related to semaglutide shortages. The company’s subscription model, which focuses on non-acute, chronic conditions, is expected to result in lasting subscriber retention, providing a stable foundation for future earnings. Consequently, the price target for Hims & Hers Health has been raised, reflecting increased confidence in the company’s financial outlook.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $85.00 price target.
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