Mizuho Issues Pessimistic Forecast for LifeMD (NASDAQ:LFMD) Stock Price

Key Points

• Mizuho cut its LifeMD price target from $7 to $6 but maintained an “outperform” rating; the new target implies about 192% upside from the stock’s $2.06 price.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $7.43, though ratings include one sell.
• LifeMD beat quarterly EPS expectations, reporting a loss of $0.11 per share versus the $0.14 loss forecast, but revenue of $44.63 million fell short of the $48.84 million estimate.

LifeMD (NASDAQ:LFMD - Get Free Report) had its price objective cut by analysts at Mizuho from $7.00 to $6.00 in a report issued on Friday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential upside of 191.97% from the stock's current price.

LFMD has been the topic of a number of other reports. Weiss Ratings restated a "sell (d)" rating on shares of LifeMD in a research report on Monday, November 2nd. B. Riley Financial assumed coverage on shares of LifeMD in a report on Friday, September 11th. They set a "buy" rating and a $8.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of LifeMD in a research note on Thursday, September 17th. BTIG Research decreased their price objective on LifeMD from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Wall Street Zen lowered LifeMD from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. Eight 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. According to data from MarketBeat, LifeMD currently has a consensus rating of "Moderate Buy" and an average price target of $7.43.

LifeMD Stock Performance

Shares of NASDAQ LFMD traded up $0.40 during mid-day trading on Friday, reaching $2.06. The company had a trading volume of 4,391,024 shares, compared to its average volume of 1,026,271. LifeMD has a one year low of $1.60 and a one year high of $5.38. The firm has a market cap of $99.05 million, a price-to-earnings ratio of -40.89 and a beta of 2.19. The business's 50-day simple moving average is $2.62 and its 200 day simple moving average is $3.58.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. The business had revenue of $44.63 million for the quarter, compared to analysts' expectations of $48.84 million. LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. On average, sell-side analysts anticipate that LifeMD will post -0.48 EPS for the current year.

Institutional Investors Weigh In On LifeMD

Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in LifeMD by 8.0% in the second quarter. BlackRock Inc. now owns 3,034,535 shares of the company's stock valued at $12,533,000 after buying an additional 225,510 shares during the period. State Street Corp raised its position in shares of LifeMD by 22.6% in the 2nd quarter. State Street Corp now owns 1,318,784 shares of the company's stock worth $5,447,000 after acquiring an additional 243,376 shares in the last quarter. Walleye Capital LLC bought a new position in shares of LifeMD in the 2nd quarter worth about $1,338,000. Russell Investments Group Ltd. lifted its stake in shares of LifeMD by 5,801.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 314,770 shares of the company's stock valued at $1,300,000 after purchasing an additional 309,436 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of LifeMD in the 2nd quarter valued at about $1,078,000. 35.52% of the stock is currently owned by institutional investors and hedge funds.

About LifeMD

LifeMD, Inc. is a virtual healthcare company that connects patients with medical providers through its telehealth platform. Its services include virtual primary care and specialty care, with offerings in areas such as men's health and weight management. The company operates the LifeMD and Rex MD brands and supports care through online consultations, treatment plans and, when prescribed, medication. Service availability and treatment options may vary by state and individual patient needs. LifeMD serves patients in the United States.

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