BTIG Research Lowers LifeMD (NASDAQ:LFMD) Price Target to $9.00

Key Points

• BTIG Research cut LifeMD’s price target from $10 to $9 while maintaining a “buy” rating, implying 144.57% upside from the prior close.
• Analyst sentiment is mixed: eight analysts rate the stock a Buy and two rate it a Sell, resulting in a consensus “Moderate Buy” rating and an average $9 price target.
• LifeMD reported quarterly EPS of $(0.16), missing estimates by $0.01, while revenue of $47.28 million fell short of the $49.16 million consensus forecast.

LifeMD (NASDAQ:LFMD - Get Free Report) had its target price reduced by equities researchers at BTIG Research from $10.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price objective would indicate a potential upside of 144.57% from the company's previous close.

A number of other brokerages also recently weighed in on LFMD. Zacks Research downgraded shares of LifeMD from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. UBS Group reaffirmed a "buy" rating on shares of LifeMD in a research note on Wednesday, May 27th. Weiss Ratings reiterated a "sell (d)" rating on shares of LifeMD in a report on Tuesday. HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of LifeMD in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut shares of LifeMD from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Eight research analysts have rated the stock with a Buy rating and two have assigned 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 $9.00.

LifeMD Stock Performance

Shares of NASDAQ LFMD opened at $3.68 on Thursday. LifeMD has a 1 year low of $2.56 and a 1 year high of $7.95. The firm has a market cap of $177.98 million, a P/E ratio of 73.61 and a beta of 2.02. The stock has a fifty day moving average price of $4.43 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 the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $47.28 million during the quarter, compared to analyst estimates of $49.16 million. LifeMD had a net margin of 2.37% and a negative return on equity of 150.88%. On average, research analysts predict that LifeMD will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LifeMD

A number of institutional investors have recently bought and sold shares of LFMD. Federated Hermes Inc. lifted its stake in 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 buying an additional 721,018 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of LifeMD during the fourth quarter valued at approximately $2,344,000. Arrowstreet Capital Limited Partnership lifted its position in shares of LifeMD by 1,767.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 434,937 shares of the company's stock valued at $5,924,000 after acquiring an additional 411,651 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in LifeMD by 581.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 412,571 shares of the company's stock worth $5,619,000 after purchasing an additional 352,004 shares during the period. Finally, Whetstone Capital Advisors LLC boosted its stake in LifeMD by 89.6% in the 4th quarter. Whetstone Capital Advisors LLC now owns 703,053 shares of the company's stock worth $2,397,000 after purchasing an additional 332,269 shares during the period. Hedge funds and other institutional investors own 35.52% of the company's stock.

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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