Shares of Hims & Hers Health Inc (NYSE:HIMS) tanked in early trading on Tuesday, after the company Monday reported disappointing first-quarter results.
Here are the key analyst insights:
- JPMorgan analyst Cory Carpenter reiterated an Overweight rating, while cutting the price target from $35 to $33.
- Needham analyst Ryan MacDonald maintained a Buy rating, while lifting the price target from $30 to $35.
- BTIG analyst David Larsen reaffirmed a Neutral rating on the stock.
Check out other analyst stock ratings.
JPMorgan: Hims & Hers Health reported mixed results, amid "noise" created by the shift from compounded to Novo-branded GLP-1s (glucagon-like peptide-1 receptor agonists), Carpenter said in a note. The company reported revenue of $608 million, representing 4% year-on-year growth, which was "no worse than feared," while strong Wegovy uptake led management to raise their 2026 revenue outlook, he added.
Hims & Hers Health guided to second-quarter revenue of $680-$700 million, representing 27% year-on-year growth, while raising the 2026 revenue outlook from $2.7-$2.9 billion to $2.8-$3.0 billion, the analyst stated. While the 2026 EBITDA outlook was lowered by $25 million, stroking concerns over the shift to branded impacting the company's margins, management said the reduction was due to "transitory factors," he further wrote.
Needham: Hims & Hers Health reported revenue of $608.1 million and adjusted EBITDA of $44.3 million, missing consensus estimates of $617 million and $47 million, respectively, MacDonald said. Subscribers grew 9.2% year-on-year and 2.9% sequentially to 2.584 million, he added.
The renewed partnership with Novo Nordisk (NYSE:NVO) is triggering strong demand, and Hims & Hers Health is on track to add 100,000 new weight-loss subscribers per month, the analyst stated. The Novo partnership helps to bring in numerous net new subs for HIMS to create “cross-sell multiple categories of care like labs, testosterone and menopause care," he further wrote.
BTIG: Hims & Hers Health's adjusted EBITDA contracted by 51% year-on-year to $44.3 million and fell significantly short of expectations. The company also raised its 2026 revenue outlook. However, management reduced adjusted EBITDA guidance from $300-$375 million to $275-$350 million.
"Our view is that the branded GLP-1s are far lower-margin than the compounded GLP-1s, and the transition to branded products is putting significant pressure on EBITDA," the analyst wrote.
HIMS Price Action: Shares of Hims & Hers Health had declined by 14.07% to $25.04 at the time of publication on Tuesday.
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