Why Hims & Hers Health, Inc. (HIMS) Skyrocketed On Tuesday

We recently published a list of 10 Firms Crushing the Market. In this article, we are going to take a look at where Hims & Hers Health, Inc. (NYSE:HIMS) stands against other firms that are crushing the market.

The stock market finished the trading day on a mixed note, as investors continued to digest April inflation figures, which came out lower than expected.

On Tuesday, the Labor Department reported that the Consumer Price Index for April rose by only 0.2 percent last month, bringing the annual inflation rate to 2.3 percent, its lowest annual rate since February 2021.

Among Wall Street’s main indices, only the S&P 500 and the tech-heavy Nasdaq registered gains, by 0.72 percent and 1.61 percent, respectively. The Dow Jones, on the other hand, was down by 0.64 percent.

Beyond the major indices, 10 companies finished the session with strong gains amid a flurry of positive developments, including ratings upgrades and impressive corporate earnings, among others.

In this article, we name Tuesday’s 10 top performers and detail the reasons behind their rally.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Hims & Hers Health, Inc. (NYSE:HIMS)

Telehealth company Hims & Hers extended its winning streak for a third straight day on Tuesday, jumping 15.92 percent to finish at $64 apiece after earning a stock rating upgrade from an investment firm.

On Tuesday, Truist Securities raised its price target for Hims & Hers Health, Inc. (NYSE:HIMS) to $45 from $33 previously while maintaining a “hold” rating on the stock.

This came after its first quarter earnings performance, which Truist referred to as a “mixed bag” after a revenue beat driven by strong sales in GLP-1, reaffirmed revenue guidance for the year, alongside a higher EBITDA forecast.

Truist’s rating also included Hims & Hers Health, Inc.’s (NYSE:HIMS) recent partnership with Novo Nordisk to jointly market the blockbuster Wegovy drugs on the former’s telehealth platform.

In its latest earnings release, Hims & Hers Health, Inc. (NYSE:HIMS) said that its net income expanded by 346 percent to $49.5 million from the $11.1 million registered in the same period last year, while revenues soared by 111 percent to $586 million from $278.2 million year-on-year.

The company said that its strong performance underpinned its updated 2025 guidance, with full-year revenues expected to settle between $2.3 billion and $2.4 billion, and the second quarter to end at $530 million to $550 million.

Overall, HIMS ranks 7th on our list of firms that are crushing the market. While we acknowledge the potential of HIMS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HIMS but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.