Movement Alert|Hims & Hers Health Inc. Rises 5.53% in Regular Trading, Needham Raises Target Price to $42 Triggering Technical Rebound

Market Focus08-28 03:10

On August 28, Hims & Hers Health Inc. rose 5.53% in regular trading, trading at $31.63/share, with turnover of $194 million.

On the news front, Needham raised its price target on the company to $42, while Truist Securities also recently lifted its target from $27 to $32 maintaining a Hold rating. Multiple analyst upgrades boosted market sentiment after consecutive sessions of selling pressure.

The stock had previously declined approximately 8% on August 24 and 5% on August 26 after Visa placed the company on its Acquirer Monitoring Program due to a surge in credit card disputes in its weight-loss subscription business, and Barclays cut its target price from $39 to $35 while maintaining an Overweight rating. Following these back-to-back declines, technical rebound momentum accumulated, with the bullish analyst actions providing a catalyst for recovery.

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