Hims & Hers $HIMS (+10,05%) gained around +10% on Friday and reached a new all-time high reached a new all-time high.
The company is now valued at a P/S of 6.6x and a forward P/S NTM of 4.1x. This is historically above the historical average of 4.9x and the median of 3.3x, but lower lower than other subscription platforms such as Netflix (10.7x) and Spotify (7.1x). At the same time, short interest is around 30% - with potential for a short squeeze?
The number of subscribers is growing at >40% and the gross margin is stabilizing at approx. 80% . Earnings per share and free cash flows are increasingly turning positive. The biggest question mark is and remains the sustainability of future growth.
I am currently leaving my existing position I am not buying or selling.
Next annual report in the next 2-4 weeks.
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