Hims & Hers Health, Inc. HIMS shares are trading higher on Tuesday after the company posted better-than-expected fourth-quarter financial results and issued strong guidance.
The Details:
The company reported quarterly earnings of 1 cent per share, beating the analyst consensus estimate of a loss of 3 cents per share.
Quarterly revenues grew 47.5% year over year to $246.62 million, beating the analyst consensus estimate of $245.82 million.
Subscribers grew to 1.5 million, up 48% year-over-year.
Outlook:
Hims & Hers Health issued strong guidance and said that it expects first-quarter 2024 revenue in the range of $267 million to $272 million, above the $252.548 million estimate. The company expects fiscal year 2024 revenue between $1.17 billion and $1.20 billion, above the $1.099 billion estimate.
Truist Securities maintained a Hold rating on the stock and raised its price target from $10 to $13. Piper Sandler maintained its Neutral rating, raising its price target from $9 to $11 following the print.
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Is HIMS A Good Stock To Buy?
Wall Street analysts view Hims & Hers Health HIMS on the whole as a Neutral, given the history of coverage over the past three months. Jailendra Singh from Truist Securities in Hims & Hers Health is the most optimistic, expecting a 30% rise in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Hims & Hers Health rose 53.17%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 47.5% over the past year.
A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.
HIMS Price Action: According to Benzinga Pro, Hims & Hers Health shares are up 31.9% at $13.53 at the time of publication.
Image: Mohamed Hassan from Pixabay
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