Bank of America reduced its price target for Hims & Hers Health, Inc. to $29 from $32 on January 8, 2026, while keeping an Underperform rating on the stock. The firm stated that consensus expectations for the company's 2026 sales and EBITDA margins are excessively high. It described 2026 as Hims & Hers' "big investment year" and said projections for an EBITDA margin increase appear overly optimistic. Bank of America anticipates negative earnings revisions in the coming months and sees risks to 2026 revenue and EBITDA margins.
In a separate report on January 5, 2026, Citi noted that Hims & Hers was again excluded from Novo Nordisk's partner list for the U.S. launch of the Wegovy weight loss pill. Other companies left off the list included CVS Health, Costco, LifeMD, and GoodRx. Citi suggested this exclusion might stem from differences between Novo Nordisk and the company's compounded semaglutide strategy. The firm forecasts that the Wegovy launch will pressure Hims & Hers' GLP-1 business in 2026. Citi maintains a $30 price target and a Sell rating on the stock.
Hims & Hers Health, Inc. stock was trading at $33.85, up $0.44, in premarket activity. The company is a leading telehealth firm in the United States.