Hims & Hers Health (HIMS) continues to defy expectations, with shares surging 17% after the company reported impressive financial results. The health and wellness brand, which specializes in direct-to-consumer telehealth products, saw a 77% year-over-year revenue growth, reaching $401.6 million in Q3 2024. Subscriber numbers surged 44%, now topping 2 million, and adjusted EBITDA hit a remarkable $51.1 million—more than quadrupling last year’s figure.
Wall Street is taking note. Institutional investors, including Robeco Institutional Asset Management and Diversify Advisory Services, now hold 63.52% of Hims & Hers stock. The company’s CEO, Andrew Dudum, and CFO, Oluyemi Okupe, have retained substantial stakes, signaling strong insider confidence. Analysts are bullish, with TD Cowen raising its price target to $28, driven by the company’s diverse revenue streams and limited reliance on weight-loss drugs.
Hims & Hers’ innovation isn’t limited to the GLP-1 craze. Its personalized health solutions, from mental health to skincare, are fueling its growth. With a forward P/E under 28 and a PEG ratio of just 0.15, the stock remains a growth bargain. Looking ahead, the company plans to launch generic GLP-1 options in 2025, further solidifying its position as a long-term winner in the telehealth space
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult a qualified financial advisor or conduct your own research before making investment decisions.
