LifeStance Health Group (NASDAQ:LFST) Stock Moved Up to Strong-Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded LifeStance Health Group from Buy to Strong Buy. Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $14.86.
• LifeStance reported quarterly EPS of $0.06, beating the $0.04 estimate, while revenue of $455.86 million exceeded forecasts and rose 25.3% year over year.
• Company insiders sold about 2.86 million shares worth $41.6 million over the past three months; institutional investors and hedge funds own 85.5% of the stock.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on LFST. Weiss Ratings reissued a "hold (c)" rating on shares of LifeStance Health Group in a research report on Wednesday, November 4th. Barclays raised their price target on shares of LifeStance Health Group from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Thursday, September 10th. JPMorgan Chase & Co. lifted their price objective on LifeStance Health Group from $13.00 to $15.00 and gave the company a "neutral" rating in a report on Thursday. KeyCorp upped their price objective on LifeStance Health Group from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Friday, November 6th. Finally, Canaccord Genuity Group upped their price objective on LifeStance Health Group from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, LifeStance Health Group has an average rating of "Moderate Buy" and a consensus target price of $14.86.

LifeStance Health Group Trading Down 0.5%

Shares of LifeStance Health Group stock opened at $14.08 on Friday. The firm has a market capitalization of $5.35 billion, a PE ratio of 74.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.44. The company's fifty day moving average price is $12.79 and its two-hundred day moving average price is $9.67. LifeStance Health Group has a 52-week low of $6.01 and a 52-week high of $15.66.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. The company had revenue of $455.86 million during the quarter, compared to analysts' expectations of $431.59 million. LifeStance Health Group had a net margin of 4.29% and a return on equity of 4.82%. The business's quarterly revenue was up 25.3% on a year-over-year basis. On average, analysts expect that LifeStance Health Group will post 0.18 EPS for the current year.

Insider Buying and Selling at LifeStance Health Group

In other news, COO Lisa Miller sold 14,663 shares of the business's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $14.68, for a total value of $215,252.84. Following the sale, the chief operating officer owned 251,904 shares in the company, valued at approximately $3,697,950.72. The trade was a 5.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan Pardo sold 2,216,585 shares of the business's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $14.58, for a total transaction of $32,317,809.30. Following the completion of the sale, the insider owned 334,935 shares in the company, valued at $4,883,352.30. This represents a 86.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 2,861,235 shares of company stock valued at $41,646,338. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LifeStance Health Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LFST. BlackRock Inc. acquired a new stake in shares of LifeStance Health Group during the second quarter worth approximately $389,293,000. Marshall Wace LLP raised its stake in shares of LifeStance Health Group by 511.8% in the third quarter. Marshall Wace LLP now owns 9,955,435 shares of the company's stock valued at $119,764,000 after acquiring an additional 8,328,169 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of LifeStance Health Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company's stock valued at $66,038,000 after acquiring an additional 1,461,215 shares during the last quarter. Jennison Associates LLC raised its stake in shares of LifeStance Health Group by 38.5% in the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company's stock valued at $65,157,000 after acquiring an additional 2,843,388 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of LifeStance Health Group by 1,249.6% in the 3rd quarter. Voya Investment Management LLC now owns 3,971,989 shares of the company's stock worth $47,783,000 after acquiring an additional 3,677,679 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors and hedge funds.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc. is a U.S. provider of outpatient mental health services. The company offers care through in-person clinics and virtual appointments, connecting patients with behavioral health professionals. Its services include psychotherapy, psychiatric evaluations and medication management. LifeStance's clinicians treat a range of mental health conditions, including anxiety, depression, attention-deficit/hyperactivity disorder and mood disorders. Founded in 2017, LifeStance has expanded its network across the United States.

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