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Hims & Hers Health, Inc. (HIMS) Surges 10.3%: Is This an Indication of Further Gains?
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Hims & Hers Health, Inc. (HIMS - Free Report) shares rallied 10.3% in the last trading session to close at $11. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.2% gain over the past four weeks.
Hims & Hers Health scored a strong price increase, on investors’ optimism driven by the company’s upcoming first-quarter 2023 financial results on May 8, post the closing bell. In its last earnings call, the company projected first-quarter revenues to be in the range of $175-$180 million. The Zacks Consensus Estimate for the first quarter revenues suggests a growth of 76.8%.
The company delivered record revenues in the previous quarter, with strong growth across the business fuelled by new technological advancements, acquisition of key talent, ongoing brand strength, and operational excellence.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $179.12 million, up 76.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Hims & Hers Health, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HIMS going forward to see if this recent jump can turn into more strength down the road.
Hims & Hers Health, Inc. is a member of the Zacks Medical Info Systems industry. One other stock in the same industry, Inspire Medical Systems (INSP - Free Report) , finished the last trading session 1.3% lower at $262.49. INSP has returned 7.2% over the past month.
Inspire's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.70. Compared to the company's year-ago EPS, this represents a change of -14.8%. Inspire currently boasts a Zacks Rank of #1 (Strong Buy).
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Hims & Hers Health, Inc. (HIMS) Surges 10.3%: Is This an Indication of Further Gains?
Hims & Hers Health, Inc. (HIMS - Free Report) shares rallied 10.3% in the last trading session to close at $11. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.2% gain over the past four weeks.
Hims & Hers Health scored a strong price increase, on investors’ optimism driven by the company’s upcoming first-quarter 2023 financial results on May 8, post the closing bell. In its last earnings call, the company projected first-quarter revenues to be in the range of $175-$180 million. The Zacks Consensus Estimate for the first quarter revenues suggests a growth of 76.8%.
The company delivered record revenues in the previous quarter, with strong growth across the business fuelled by new technological advancements, acquisition of key talent, ongoing brand strength, and operational excellence.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $179.12 million, up 76.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Hims & Hers Health, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HIMS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Hims & Hers Health, Inc. is a member of the Zacks Medical Info Systems industry. One other stock in the same industry, Inspire Medical Systems (INSP - Free Report) , finished the last trading session 1.3% lower at $262.49. INSP has returned 7.2% over the past month.
Inspire's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.70. Compared to the company's year-ago EPS, this represents a change of -14.8%. Inspire currently boasts a Zacks Rank of #1 (Strong Buy).