What's Up With Hims & Hers Health Stock Today?

Hims & Hers Health Inc HIMS shares are trading higher Tuesday after the company reported better-than-expected results and issued guidance above analyst estimates.

• Q4 Revenue: $167.2 million beat estimates of $161.17 million
• Q4 EPS: Loss of 5 cents beat estimates for loss of 7 cents

Hims & Hers Health passed the 1 million subscribers mark after growing subs by 88% year-over-year, fueled by new technological advancements, acquisition of key talent, ongoing brand strength and operational excellence.

"We entered 2023 with tremendous momentum and are poised to drive top-line growth and profitability as we focus on four strategic pillars: building a trusted brand, deploying leading technology, developing innovative products and services, and ensuring clinical excellence, which will enable us to continue to execute on our mission and extend our reach," said Andrew Dudum, co-founder and CEO of Hims & Hers.

Outlook: Hims & Hers expects first-quarter revenue of $175 million to $180 million versus estimates of $162.65 million. Full-year revenue is expected to be between $735 million and $755 million versus estimates of $726.92 million. 

See Also: Why Norwegian Cruise Line Shares Are Sinking

Analyst Adjustments: 

• BofA Securities analyst Michael Cherny maintained Hims & Hers Health with a Buy and raised the price target from $11.50 to $13.50.
• Piper Sandler analyst Korinne Wolfmeyer maintained Hims & Hers Health with a Neutral and raised the price target from $7 to $10.
• Citigroup analyst Daniel Grosslight maintained Hims & Hers Health with a Buy and raised the price target from $9 to $14.

HIMS Price Action: Hims & Hers Health has a 52-week low of $2.72. It's making new 52-week highs today.

The stock was up 8.6% at $10.48 at time of publication, according to Benzinga Pro.

Photo: StockSnap from Pixabay.