LifeStance Health Group, Inc. (NASDAQ:LFST) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• LifeStance Health Group has a consensus analyst rating of “Moderate Buy” from 11 brokerages, with an average 12-month price target of about $11.13.
• The company reported better-than-expected quarterly results, earning $0.04 per share versus the $0.01 estimate and generating $403.48 million in revenue, up 21.2% year over year.
• Shares were trading near their 52-week high at $11.45, while insiders have also been active sellers, including large stock sales by two directors in May.

Shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.1250.

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. BTIG Research increased their target price on shares of LifeStance Health Group from $11.00 to $12.00 and gave the company a "buy" rating in a report on Friday, May 8th. Canaccord Genuity Group raised their price target on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday. The Goldman Sachs Group started coverage on shares of LifeStance Health Group in a report on Friday, June 5th. They set a "neutral" rating and a $9.00 price target on the stock. Finally, Wall Street Zen raised shares of LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th.

LifeStance Health Group Stock Up 1.0%

Shares of NASDAQ:LFST opened at $11.45 on Wednesday. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 190.83 and a beta of 1.12. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. LifeStance Health Group has a 12-month low of $3.74 and a 12-month high of $11.76. The business's 50 day moving average is $9.15 and its 200 day moving average is $7.74.

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

Insiders Place Their Bets

In other news, Director Darren M. Black sold 5,899,661 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $47,315,281.22. Following the transaction, the director owned 23,310,115 shares in the company, valued at $186,947,122.30. The trade was a 20.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Shuey sold 243,362 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $1,951,763.24. Following the completion of the transaction, the director directly owned 867,562 shares of the company's stock, valued at approximately $6,957,847.24. This represents a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,757,293 shares of company stock valued at $64,072,101 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB grew its stake in LifeStance Health Group by 37.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 41,100 shares of the company's stock valued at $440,000 after purchasing an additional 11,100 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of LifeStance Health Group during the 2nd quarter valued at $451,000. Bank of America Corp DE raised its stake in shares of LifeStance Health Group by 165.0% during the 1st quarter. Bank of America Corp DE now owns 1,994,027 shares of the company's stock worth $12,702,000 after purchasing an additional 1,241,475 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company's stock worth $44,000 after purchasing an additional 5,404 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of LifeStance Health Group by 32.1% in the 1st quarter. California State Teachers Retirement System now owns 166,084 shares of the company's stock worth $1,058,000 after buying an additional 40,402 shares during the last quarter. Hedge funds and other 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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