Canaccord Genuity Group Forecasts Strong Price Appreciation for LifeStance Health Group (NASDAQ:LFST) Stock

Key Points

• Canaccord Genuity raised its price target on LifeStance Health Group from $15 to $16 and maintained a Buy rating, implying 15.85% upside from the prior close. Analysts’ average rating is Moderate Buy, with a consensus target of $13.75.
• LifeStance beat quarterly estimates, reporting adjusted EPS of $0.06 versus $0.04 expected and revenue of $455.9 million versus $431.6 million. Revenue increased 25.3% year over year, and the company raised its full-year outlook.
• Company insiders sold a substantial number of shares over the last quarter: 13.8 million shares valued at about $146.4 million. Insiders own 3.5% of the stock.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) had its price objective boosted by Canaccord Genuity Group from $15.00 to $16.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 15.85% from the company's previous close.

Several other analysts also recently commented on LFST. Weiss Ratings upgraded shares of LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. KeyCorp upped their price target on shares of LifeStance Health Group from $15.00 to $17.00 and gave the company an "overweight" rating in a report on Friday. Zacks Research downgraded shares of LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Barclays raised their price objective on shares of LifeStance Health Group from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, LifeStance Health Group currently has an average rating of "Moderate Buy" and a consensus target price of $13.75.

LifeStance Health Group Trading Up 2.8%

Shares of LifeStance Health Group stock traded up $0.38 during trading hours on Friday, hitting $13.81. The company's stock had a trading volume of 2,321,528 shares, compared to its average volume of 3,662,855. LifeStance Health Group has a 12 month low of $5.87 and a 12 month high of $15.66. The stock has a 50 day moving average of $12.59 and a 200 day moving average of $9.46. The company has a market capitalization of $5.28 billion, a PE ratio of 106.36 and a beta of 1.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%. The company had revenue of $455.86 million for the quarter, compared to analyst estimates of $431.59 million. The business's quarterly revenue was up 25.3% on a year-over-year basis. Analysts predict that LifeStance Health Group will post 0.16 earnings per share for the current year.

Insider Activity at LifeStance Health Group

In other LifeStance Health Group news, CTO Vukasin Paunovich sold 42,067 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $12.87, for a total transaction of $541,402.29. Following the completion of the transaction, the chief technology officer owned 205,379 shares of the company's stock, valued at $2,643,227.73. This represents a 17.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Lisa K. Miller sold 47,912 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $519,845.20. Following the transaction, the chief operating officer directly owned 281,289 shares of the company's stock, valued at $3,051,985.65. This represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 13,777,580 shares of company stock valued at $146,433,781. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Profund Advisors LLC raised its position in LifeStance Health Group by 7.1% during the third quarter. Profund Advisors LLC now owns 11,944 shares of the company's stock worth $144,000 after acquiring an additional 788 shares in the last quarter. Assetmark Inc. lifted its stake in LifeStance Health Group by 17.0% in the first quarter. Assetmark Inc. now owns 9,419 shares of the company's stock valued at $60,000 after acquiring an additional 1,367 shares during the last quarter. Signaturefd LLC grew its position in shares of LifeStance Health Group by 35.6% in the 3rd quarter. Signaturefd LLC now owns 5,357 shares of the company's stock valued at $64,000 after acquiring an additional 1,405 shares during the period. Everhart Financial Group Inc. grew its position in shares of LifeStance Health Group by 1.3% in the 3rd quarter. Everhart Financial Group Inc. now owns 112,844 shares of the company's stock valued at $1,358,000 after acquiring an additional 1,435 shares during the period. Finally, Allworth Financial LP grew its position in shares of LifeStance Health Group by 7.7% in the 2nd quarter. Allworth Financial LP now owns 26,532 shares of the company's stock valued at $284,000 after acquiring an additional 1,889 shares during the period. Institutional investors and hedge funds own 85.50% of the company's stock.

Trending Headlines about LifeStance Health Group

Here are the key news stories impacting LifeStance Health Group this week:

• Positive Sentiment: LifeStance reported Q3 adjusted earnings of $0.06 per share, ahead of the roughly $0.04 consensus, and revenue of $455.9 million versus estimates of $431.6 million. Revenue rose 25.3% year over year, and the company raised its full-year outlook—factors that suggest stronger growth and results than investors had anticipated. LifeStance Q3 results and outlook
• Positive Sentiment: BTIG Research raised its price target to $20 from $18 and maintained a Buy rating. KeyCorp raised its target to $17 from $15 and reiterated an Overweight rating, adding to the positive analyst backdrop. BTIG target update KeyCorp target update
• Neutral Sentiment: Coverage noted LFST had hit a 52-week high and highlighted its momentum, but offered no new company-specific development beyond the earnings report and analyst updates. LifeStance at a fresh high

About LifeStance Health Group

LifeStance Health Group, Inc is a provider of outpatient behavioral health services in the United States. Through a network of clinicians and care centers, the company offers mental health care through in-person appointments and telehealth visits.

LifeStance's services include individual, couples and family therapy; psychiatric evaluation and medication management; psychological and neuropsychological testing; and treatment for conditions such as depression, anxiety, attention-deficit/hyperactivity disorder, bipolar disorder, post-traumatic stress disorder and other behavioral health concerns.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.