B. Riley Financial Begins Coverage on LifeMD (NASDAQ:LFMD)

Key Points

• B. Riley Financial initiated coverage of LifeMD with a “buy” rating and an $8.00 price target, implying 162.73% upside from the stock’s prior close.
• Analyst sentiment is broadly positive: eight analysts rate LifeMD a Buy, one a Hold and one a Sell, resulting in a “Moderate Buy” consensus and an average target of $7.57.
• LifeMD shares rose 0.5% to $3.04, while the company’s latest quarter missed expectations, reporting a $0.16 adjusted loss per share and $47.28 million in revenue versus estimates of $49.16 million.

B. Riley Financial initiated coverage on shares of LifeMD (NASDAQ:LFMD - Get Free Report) in a research report issued to clients and investors on Friday. The brokerage set a "buy" rating and a $8.00 price target on the stock. B. Riley Financial's price target suggests a potential upside of 162.73% from the company's previous close.

A number of other research firms have also recently weighed in on LFMD. HC Wainwright lowered their price target on shares of LifeMD from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Wall Street Zen downgraded shares of LifeMD from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Weiss Ratings restated a "sell (d)" rating on shares of LifeMD in a research report on Tuesday, August 4th. UBS Group restated a "buy" rating on shares of LifeMD in a research report on Wednesday, May 27th. Finally, BTIG Research dropped their target price on shares of LifeMD from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, LifeMD has an average rating of "Moderate Buy" and an average target price of $7.57.

LifeMD Trading Up 0.5%

Shares of LifeMD stock traded up $0.01 on Friday, reaching $3.04. 418,705 shares of the stock were exchanged, compared to its average volume of 1,044,942. The firm has a market capitalization of $146.77 million, a PE ratio of -60.93 and a beta of 2.04. LifeMD has a 1-year low of $2.56 and a 1-year high of $7.32. The business has a fifty day moving average price of $3.70 and a two-hundred day moving average price of $3.98.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The business had revenue of $47.28 million during the quarter, compared to analysts' expectations of $49.16 million. LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. Research analysts expect that LifeMD will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in LifeMD by 8.0% during the second quarter. BlackRock Inc. now owns 3,034,535 shares of the company's stock worth $12,533,000 after buying an additional 225,510 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of LifeMD by 6.7% in the third quarter. Vanguard Group Inc. now owns 2,226,871 shares of the company's stock valued at $15,120,000 after acquiring an additional 140,749 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of LifeMD by 278.1% during the fourth quarter. Federated Hermes Inc. now owns 980,285 shares of the company's stock valued at $3,343,000 after acquiring an additional 721,018 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of LifeMD by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 959,700 shares of the company's stock valued at $3,273,000 after acquiring an additional 11,324 shares during the last quarter. Finally, Royce & Associates LP increased its position in LifeMD by 11.7% during the 4th quarter. Royce & Associates LP now owns 909,651 shares of the company's stock worth $3,102,000 after purchasing an additional 95,200 shares in the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

LifeMD Company Profile

LifeMD NASDAQ: LFMD is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.

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