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

Key Points

• Canaccord Genuity Group raised its price target on LifeStance Health Group to $13 from $11 and kept a buy rating, implying about 14.6% upside from the current price.
• Other analysts have also turned more positive, including Barclays lifting its target to $13 and issuing an overweight rating. Overall, the stock carries a Moderate Buy consensus with an average target price of $11.12.
• LifeStance reported better-than-expected quarterly results, with EPS of $0.04 versus $0.01 expected and revenue of $403.48 million, up 21.2% year over year. However, insiders have sold heavily in recent months, even as institutional investors own 85.5% of the stock.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) had its price target raised by equities research analysts at Canaccord Genuity Group from $11.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target suggests a potential upside of 14.64% from the stock's current price.

Other analysts have also recently issued research reports about the company. Barclays boosted their price target on LifeStance Health Group from $9.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Weiss Ratings restated a "hold (c-)" rating on shares of LifeStance Health Group in a research report on Wednesday, May 27th. BTIG Research lifted their price objective on LifeStance Health Group from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group started coverage on LifeStance Health Group in a research note on Friday, June 5th. They set a "neutral" rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.12.

LifeStance Health Group Price Performance

Shares of LifeStance Health Group stock opened at $11.34 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18. The company's 50-day moving average price is $9.08 and its two-hundred day moving average price is $7.71. LifeStance Health Group has a 52 week low of $3.74 and a 52 week high of $11.76. The stock has a market cap of $4.40 billion, a PE ratio of 189.00 and a beta of 1.12.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $403.48 million during the quarter, compared to the consensus estimate of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.LifeStance Health Group's quarterly revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts anticipate that LifeStance Health Group will post 0.12 EPS for the current fiscal year.

Insider Transactions at LifeStance Health Group

In other LifeStance Health Group news, Director Eric Shuey sold 243,362 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the completion of the sale, the director owned 867,562 shares in the company, valued at approximately $6,957,847.24. The trade was a 21.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Bessler sold 894,337 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $10.13, for a total value of $9,059,633.81. Following the completion of the transaction, the director directly owned 539,763 shares in the company, valued at approximately $5,467,799.19. This trade represents a 62.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 7,757,293 shares of company stock worth $64,072,101 in the last quarter. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On LifeStance Health Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in LifeStance Health Group by 21.1% during the 4th quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company's stock worth $124,608,000 after acquiring an additional 3,086,506 shares during the last quarter. Silversmith Partners I GP LLC acquired a new stake in LifeStance Health Group in the fourth quarter worth $100,842,000. Dimensional Fund Advisors LP raised its holdings in 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 worth $66,038,000 after purchasing an additional 1,461,215 shares during the period. Jennison Associates LLC boosted its position in shares of LifeStance Health Group by 38.5% during the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company's stock worth $65,157,000 after purchasing an additional 2,843,388 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of LifeStance Health Group by 27.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,118,027 shares of the company's stock worth $43,071,000 after purchasing an additional 1,324,691 shares in the last quarter. Institutional investors own 85.50% of the company's stock.

LifeStance Health Group Company Profile

LifeStance Health Group NASDAQ: LFST is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.

The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.

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