LifeStance Health Group (NASDAQ:LFST) Given New $13.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised LifeStance Health Group’s price target to $13 from $9 while maintaining a neutral rating, implying roughly 2.5% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $12.12; recent targets range from $13 to $16.
• LifeStance exceeded quarterly expectations, reporting $0.06 EPS versus $0.03 expected and revenue of $435.35 million, up 26.1% year over year. However, insiders sold approximately $155 million of stock over the past three months.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $9.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 2.48% from the company's previous close.

LFST has been the topic of several other reports. KeyCorp upped their price objective on LifeStance Health Group from $11.00 to $13.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Weiss Ratings raised shares of LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. BTIG Research upped their target price on shares of LifeStance Health Group from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, August 7th. Barclays raised their price target on shares of LifeStance Health Group from $9.00 to $13.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group lifted their price target on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. One equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.12.

LifeStance Health Group Price Performance

Shares of LFST stock traded up $0.47 during trading hours on Friday, hitting $12.69. The company's stock had a trading volume of 2,264,981 shares, compared to its average volume of 3,440,173. The business has a fifty day moving average of $10.29 and a 200-day moving average of $8.19. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 97.73 and a beta of 1.14. LifeStance Health Group has a twelve month low of $4.77 and a twelve month high of $12.72. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $435.35 million during the quarter, compared to the consensus estimate of $414.58 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The company's quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS. As a group, equities research analysts anticipate that LifeStance Health Group will post 0.15 EPS for the current year.

Insider Activity at LifeStance Health Group

In related news, Director Robert Bessler sold 894,337 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 539,763 shares of the company's stock, valued at approximately $5,467,799.19. This trade represents a 62.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lisa K. Miller sold 47,912 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.85, for a total transaction of $519,845.20. Following the completion of the sale, the chief operating officer owned 281,289 shares of the company's stock, valued at approximately $3,051,985.65. The trade was a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,629,850 shares of company stock valued at $154,952,012 over the last three months. Insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its position in LifeStance Health Group by 19,952.6% during the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company's stock valued at $27,000 after acquiring an additional 3,791 shares during the period. KBC Group NV purchased a new position in shares of LifeStance Health Group in the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of LifeStance Health Group by 359.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company's stock valued at $44,000 after purchasing an additional 5,404 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of LifeStance Health Group by 615.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company's stock worth $59,000 after purchasing an additional 7,987 shares during the period. Finally, Assetmark Inc. increased its position in LifeStance Health Group by 17.0% during the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company's stock worth $60,000 after purchasing an additional 1,367 shares in the last quarter. 85.50% of the stock is owned by hedge funds and other institutional investors.

About LifeStance Health Group

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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