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Why Hims & Hers Health, Inc. (HIMS) Outpaced the Stock Market Today
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The most recent trading session ended with Hims & Hers Health, Inc. (HIMS - Free Report) standing at $12.50, reflecting a +1.87% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 2.03%.
Prior to today's trading, shares of the company had lost 20.69% over the past month. This has lagged the Medical sector's loss of 5.2% and the S&P 500's loss of 3.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Hims & Hers Health, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $270.86 million, up 41.98% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.10 per share and a revenue of $1.2 billion, representing changes of +190.91% and +37.12%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hims & Hers Health, Inc. Recent revisions tend to reflect the latest 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 shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Hims & Hers Health, Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Hims & Hers Health, Inc. is presently being traded at a Forward P/E ratio of 123.38. This valuation marks a premium compared to its industry's average Forward P/E of 23.36.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why Hims & Hers Health, Inc. (HIMS) Outpaced the Stock Market Today
The most recent trading session ended with Hims & Hers Health, Inc. (HIMS - Free Report) standing at $12.50, reflecting a +1.87% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 2.03%.
Prior to today's trading, shares of the company had lost 20.69% over the past month. This has lagged the Medical sector's loss of 5.2% and the S&P 500's loss of 3.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Hims & Hers Health, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $270.86 million, up 41.98% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.10 per share and a revenue of $1.2 billion, representing changes of +190.91% and +37.12%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hims & Hers Health, Inc. Recent revisions tend to reflect the latest 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 shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Hims & Hers Health, Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Hims & Hers Health, Inc. is presently being traded at a Forward P/E ratio of 123.38. This valuation marks a premium compared to its industry's average Forward P/E of 23.36.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.