Hims & Hers Health Stock Gains 77% YTD as Earnings Approaching

Hims & Hers stock (NYSE: HIMS) has had an impressive start to the year, gaining an impressive 77.66% with less than a month and a half complete. With the past 12 months increase now at a staggering ~350%, the next major earnings release in less than two weeks will be coming against a backdrop of increased expectations.

The company will announce its fiscal year 2024 results on February 24, which are expected to provide further insights into recent operations, and the future outlook. Markets are looking for an EPS of $0.21, coming against revenues of $469.68 million.

Hims & Hers has beaten on top and bottom lines in each of the preceding three reports, with the latest quarter's EPS coming in at $0.43. This marked an impressive 187% beat on the $0.15 markets were expecting. Revenue came in at $401.56 million, itself a close to 5% beat on the $382.77 million expected.

The company's growth strategy primarily hinges on expanding its subscriber base significantly. With millions of potential subscribers still untapped, Hims & Hers is focusing on innovative and personalised healthcare offerings to attract new customers. This strategy aims at leveraging the increasing trend towards personalised healthcare, which is seen as a significant driver for future growth.

Hims & Hers Health is well-positioned for future expansion due to its focus on personalized healthcare solutions and the untapped potential of new subscribers. Investors and analysts alike will be watching closely as the company releases its fiscal year 2024 results, which are expected to provide further clarity on its growth strategies and performance outlook.