Hims & Hers Health Sees Major Growth Opportunity In Booming Weight Loss Market, Says Analyst
Portfolio Pulse from Lekha Gupta
Needham analyst Ryan Macdonald initiated coverage on Hims & Hers Health Inc. (NYSE:HIMS) with a Buy rating and a $24 price target, citing growth potential in the weight loss market. HIMS is expected to benefit from its entry into the GLP-1 market and other growth drivers. The company reported strong earnings and revenue, exceeding analyst expectations.
August 22, 2024 | 6:26 pm
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POSITIVE IMPACT
Hims & Hers Health Inc. received a Buy rating from Needham with a $24 price target. The company is expected to capitalize on the $373 billion weight loss market, with strong growth potential and multiple revenue drivers. Recent earnings exceeded expectations.
The analyst's Buy rating and positive outlook on HIMS's growth potential in the weight loss market, along with strong earnings performance, suggest a likely positive impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Hims & Hers Health through the Amplify Online Retail ETF (IBUY). The ETF may benefit from HIMS's growth potential in the weight loss market.
IBUY holds HIMS, which has received a positive analyst rating and is expected to grow in the weight loss market. This could positively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The Invesco Dorsey Wright Healthcare Momentum ETF (PTH) includes Hims & Hers Health, which is expected to grow in the weight loss market. This could enhance the ETF's performance.
PTH holds HIMS, which has a positive growth outlook in the weight loss market. This could positively influence the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50