Hims & Hers Health (NYSE: HIMS) Faces Price Target Cuts Amidst Q1 Challenges and Strategic Shift

Font: Financial Modeling Prep  • May 12, 2026

• Analyst Jefferies lowered the price target for Hims & Hers Health (NYSE: HIMS) to $24.50, below its trading price, following a challenging first quarter.
• The telehealth company reported weaker-than-expected revenue and a surprise loss, partly due to a strategic shift in its weight-loss business from compounded GLP-1 medications to branded alternatives.
• Despite mixed analyst reactions (JPMorgan (NYSE: JPM) lowered, Canaccord raised), the stock experienced a significant daily decrease of 13.11%.

Hims & Hers Health is a telehealth company offering health and wellness products directly to consumers. On May 12, 2026, an analyst from Jefferies lowered the price target for Hims & Hers Health to $24.50 from $25.50. At the time of the change, the stock was trading at $25.28 per share, placing the new target below its market price.

The price target adjustment follows a challenging first quarter for the company. As highlighted by Invezz, Hims & Hers Health reported weaker-than-expected revenue and a surprise loss, causing its shares to fall sharply by approximately 15% in premarket trading. The end of a weight-loss drug shortage also hurt the company's recent momentum, even as subscriber numbers grew.

A key factor in the poor results is a strategic change in the company's weight-loss business. Hims & Hers Health is shifting from selling compounded GLP-1 medications to branded alternatives. GLP-1s are a class of drugs used for weight management. This transition increased restructuring costs and disrupted how sales were recognized during the quarter.

Other analysts also adjusted their views. As highlighted by 247wallst.com, JPMorgan (NYSE: JPM) trimmed its price target on Hims & Hers Health to $33.00 from $35.00 but maintained its Overweight rating. In contrast, Canaccord raised its target to $32.00 from $30.00, describing the quarter as a "transition speed bump" rather than a significant setback.

The market reacted to the news with a significant daily decrease of 13.11%, with the stock closing at $25.32. The company, which has a market capitalization of approximately $5.56 billion, saw its stock trade between a low of $24.57 and a high of $26.84 during the session.