Piper Sandler analyst Korinne Wolfmeyer raised the firm’s price target on Hims & Hers to $21 from $18 and keeps a Neutral rating on the shares. The firm notes the company delivered another solid print, driven by a nice uptake of GLP-1s and the core business. The average price also moved up with GLP-1s, but gross margin percentage fell several points year-over-year due to GLP-1 mix headwinds and value offerings for core subscribers. That said, as the business scales, SG&A leverage is looking more attractive, but Piper is limiting the margin upside it is modeling due to GLP-1 headwinds that are likely to become stronger and investments to support new launches.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HIMS:
- Hims & Hers price target raised to $28 from $24 at Canaccord
- Hims & Hers Health Reports Strong Q3 2024 Growth
- Closing Bell Movers: Palantir jumps 13% after results
- Hims & Hers to stop reporting on orders, average order value after 2024
- Hims & Hers raises FY24 revenue view to $1.46B-$1.465B, consensus $1.40B
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
