Hims & Hers Health, Inc. (NASDAQ:HIMS) shares fell in Tuesday premarket trading after the telehealth company reported first-quarter results that missed Wall Street expectations on both earnings and revenue.
The company posted a quarterly loss of 40 cents per share, missing analyst estimates for earnings of 4 cents per share. Revenue totaled $608.1 million, below the Street consensus estimate of $616.9 million, according to Benzinga Pro data.
Revenue increased 4% year over year. However, the weaker-than-expected results raised investor concerns about the company’s near-term growth outlook.
Hims & Hers said it is continuing to expand its GLP-1 product offerings as part of its broader growth strategy.
For the second quarter, the company expects revenue in the range of $680 million to $700 million, above analyst estimates of $642.95 million. Adjusted EBITDA is projected between $35 million and $55 million.
HIMS Technical Analysis: Bearish Momentum Below Key Averages
The stock is currently trading 10.3% below its 20-day simple moving average (SMA) of $27.59, indicating a bearish short-term trend. The moving average convergence divergence (MACD) is below its signal line, suggesting that momentum is fading and may continue to decline unless the stock can reclaim that baseline.
Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price forecast of $29.50. Recent analyst moves include:
- Needham: Buy (Raises forecast to $35.00) (May 12)
- JP Morgan: Initiated with Overweight Forecast $35.00 (April 24)
- B of A Securities: Neutral (Raises forecast to $32.00) (April 24)
HIMS Price Action: Hims & Hers Health shares were down 14.55% at $24.90 during premarket trading on Tuesday, according to Benzinga Pro data.
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