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Is HIMS a good stock to buy? We came across a bullish thesis on Hims & Hers Health, Inc. on Investment Ideas by Antonio’s Substack by Antonio Linares. In this article, we will summarize the bulls’ thesis on HIMS. Hims & Hers Health, Inc.'s share was trading at $29.76 as of April 21st. HIMS’s trailing and forward P/E were 60.80 and 72.99 respectively according to Yahoo Finance.

Hims & Hers Health, Inc. (Hims) is positioned as a vertically integrated digital healthcare platform transitioning from reactive treatment to preventive, data-driven medicine. The Q4 FY2025 update highlights early evidence of customers proactively engaging through diagnostics, lifting ARPU and reinforcing the shift toward preventative engagement rather than symptom-led care. Despite ongoing legal scrutiny and slowing subscriber growth, management indicates that the core weight loss exposure is limited and unlikely to materially affect the broader business model.

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The investment thesis centers on a convergence between low-cost diagnostics and asymmetric peptide-based treatments, enabled by AI models trained on proprietary biomarker data. This creates a compounding flywheel where more diagnostics generate richer datasets, improving treatment recommendations, which in turn drives higher engagement and retention. Hims is moving healthcare from reactive prescribing to predictive prevention, where patients engage earlier through lab testing and identify risks before symptoms emerge.

Rising ARPU reflects deeper platform monetization as labs, hormonal therapies, and emerging verticals such as testosterone and menopause expand the subscription ecosystem. Valuation is viewed as disconnected from fundamentals, with market psychology underestimating the long-term value of a networked healthcare infrastructure.

International expansion, rising diagnostics penetration, and over $300 million in infrastructure investment position Hims for sustained scale-driven growth. Falling GLP-1 prices underscore a broader shift where value accrues not to molecules themselves but to data-driven selection of optimal therapies. This positions Hims as a potential category-defining subscription healthcare platform with expanding moat, strong long-term cash generation, and significant rerating potential as AI-driven preventive care scales globally.

Previously, we covered a bullish thesis on Hims & Hers Health, Inc. (HIMS) by Oliver | MMMT Wealth in May 2025, highlighting strong revenue growth, margin expansion and subscriber monetization. HIMS's stock price has depreciated by approximately 43.15% since our coverage. Antonio Linares shares a similar view but emphasizes a preventive AI-driven diagnostics and biomarker personalization flywheel focus.

Hims & Hers Health, Inc. is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held HIMS at the end of the fourth quarter which was 35 in the previous quarter. While we acknowledge the risk and potential of HIMS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HIMS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

Disclosure: None.