HIMS → $42.00 by Mar 26, 2026.

I valued Hims [6 months ago at \~$34/share.](https://www.reddit.com/r/stocks/comments/1lvtt5q/my_thesis_on_hims_why_i_think_its_worth_34share/) Back then my main thesis was that telehealth was a low-margin business, subscriber growth was fueled by gobs of marketing spend, that their fastest growing vertical (GLP-1 meds) faced regulatory hurdles, and the business competed in a fragmented and highly competitive D2C space. I decided to take another look at Hims after they published their Q3 results, and I actually think it's undervalued by about 20%. Here's why my view has changed. …