Hims & Hers Health Inc (HIMS)

Shares of Hims & Hers Health (HIMS) dropped by 5.82% from $7.90 to $7.44 in the trading on Tuesday, August 8, 2023. The reason why HIMS is down today is due to a downgrade rating form Moody's after Q2 earnings report. In Q2 2023, the company saw a loss of three cents per share, surpassing the expected loss of six cents. Quarterly sales reached $207.91 million, exceeding the estimated $204.62 million and marking an 83.08% increase from the previous year's $113.56 million. Hims & Hers also reported a 74% year-over-year growth in subscribers. The company raised its full-year 2023 revenue guidance to a range of $830 million to $850 million and anticipates third-quarter revenue between $217 million and $222 million. Despite positive results, the analysts from Moody's downgraded on HIMS stock, as they claimed that there would be challenges for the company in the future.