Canaccord Genuity reiterates Buy rating on Hims & Hers stock at $68

Investing.com - Canaccord Genuity has reiterated its Buy rating and $68.00 price target on Hims & Hers Health (NYSE:HIMS) following the company’s third-quarter results that exceeded guidance for both revenue and adjusted EBITDA.

The telehealth provider reported strong subscriber growth, with subscribers excluding on-demand sexual health increasing 40% year-over-year. Multi-condition subscribers grew 80% year-over-year and now represent 20% of total subscribers, demonstrating successful cross-selling of treatments. This growth has contributed to HIMS’s remarkable 88.69% revenue increase over the last twelve months, with total revenue reaching $2.01 billion.

Hims & Hers is making progress with its vertically integrated operational strategy, which has enabled a 20% price reduction across personalized GLP-1 plans. The company expects the majority of compounded GLP-1 orders to be fulfilled through internal facilities by the end of 2026.

The company disclosed it is in active discussions with Novo Nordisk to offer Wegovy injections and its oral formulation on the platform once FDA approved. While fourth-quarter guidance fell below expectations, the full-year 2025 revenue guidance was reduced by only $5 million at the midpoint.

Looking ahead to 2026, Hims & Hers anticipates some growth moderation in the near term due to the evolution of its sexual health vertical and a shift to shorter shipment cadences, with normalization expected in the second half of 2026 as new conditions gain momentum.

In other recent news, Hims & Hers Health announced its third-quarter 2025 earnings, showcasing a mixed financial performance. The company reported earnings per share (EPS) of $0.06, which did not meet analysts’ expectations of $0.10, representing a 40% negative surprise. On a positive note, Hims & Hers Health surpassed revenue forecasts, achieving $600 million compared to the anticipated $580.37 million, marking a 3.38% surprise. These results indicate a complex financial landscape for the company as it navigates investor expectations. Despite the EPS miss, the company’s revenue performance seems to have positively influenced market sentiment. The reaction in the aftermarket suggests investors are focusing on the revenue beat. There have been no recent updates regarding mergers or acquisitions involving Hims & Hers Health. Additionally, there is no new information on analyst upgrades or downgrades for the company. These developments highlight the importance of closely monitoring Hims & Hers Health’s financial performance and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.