Hims & Hers Health, Inc. (HIMS) Suffers a Larger Drop Than the General Market: Key Insights

In the latest trading session, Hims & Hers Health, Inc. HIMS closed at $12.34, marking a -0.56% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.22% for the day. Elsewhere, the Dow saw an upswing of 0.06%, while the tech-heavy Nasdaq depreciated by 0.52%.

Heading into today, shares of the company had lost 24.7% over the past month, lagging the Medical sector's loss of 6.22% and the S&P 500's loss of 1.66% in that time.

Market participants will be closely following the financial results of Hims & Hers Health, Inc. in its upcoming release. The company plans to announce its earnings on May 6, 2024. In that report, analysts expect Hims & Hers Health, Inc. to post earnings of $0.02 per share. This would mark year-over-year growth of 140%. In the meantime, our current consensus estimate forecasts the revenue to be $270.86 million, indicating a 41.98% growth compared to the corresponding quarter of the prior year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.10 per share and revenue of $1.2 billion, indicating changes of +190.91% and +37.12%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Hims & Hers Health, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Hims & Hers Health, Inc. currently has a Zacks Rank of #2 (Buy).

Investors should also note Hims & Hers Health, Inc.'s current valuation metrics, including its Forward P/E ratio of 124.79. This denotes a premium relative to the industry's average Forward P/E of 23.18.

The Medical Info Systems industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 42% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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