Why Is Hims & Hers (HIMS) Stock Up 24% Today?

  • Hims & Hers (HIMS) stock is rising after the company released third-quarter results.
  • The company introduced strong guidance for Q4 and full-year 2022.
  • It also beat revenue estimates for Q3.
The logo for Hims & Hers (HIMS Stock) displayed on a smartphone screen.

Source: Lori Butcher / Shutterstock.com

Hims & Hers (NYSE:HIMS) stock is climbing higher on Tuesday after reporting results for the third quarter of 2022.

Investors are especially taking note of the company’s newest guidance in the earnings report. This saw Hims & Hers introduce a Q4 revenue outlook range of between $159 million and $162 million. That looks good next to Wall Street’s estimate of $134.3 million for the quarter.

Adding to that, Hims & Hers raised its revenue outlook for the full year of 2022. Now, the company expects revenue for the year to range from $519 million to $522 million. That should see the company easily beat analysts’ average estimate of $479.9 million for the period.

HIMS Q3 Results Were Also Positive

Results for the third quarter were positive as well. For example, the company saw $144.8 million in Q3 revenue, well above Wall Street’s revenue estimate of $134.3 million. That’s also a 95% year-over-year (YOY) increase from $74.17 million in the prior-year period.

The only negative from the HIMS earnings report are its losses per share of 9 cents. That’s a wider loss than the -7 cents analysts had expected. It’s also wider than the -8 cent loss in Q3 2021.

Even so, the company’s overall positive earnings report has HIM stock seeing heavy trading today. More than 2 million shares have already changed hands as of this writing. That’s a big leap over the daily average trading volume of about 1.5 million shares.

HIMS stock is up 23.6% as of Tuesday morning.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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