LifeStance Health Group (NASDAQ:LFST) Price Target Raised to $15.00 at BTIG Research

Key Points

• BTIG Research raised its price target on LifeStance Health Group from $12 to $15 and kept a buy rating, implying about 38.8% upside from the prior close.
• The stock has drawn a mixed but generally positive analyst response: the consensus rating is Moderate Buy with an average price target of $11.50, while several firms recently lifted targets or upgraded ratings.
• LifeStance reported better-than-expected quarterly results, posting $0.04 EPS on revenue of $403.48 million, with revenue up 21.2% year over year; however, insiders have also sold a significant amount of stock in recent months.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) had its price target increased by research analysts at BTIG Research from $12.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price objective would indicate a potential upside of 38.76% from the company's previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on LifeStance Health Group from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. Canaccord Genuity Group lifted their price target on LifeStance Health Group from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday. Wall Street Zen raised LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 4th. Finally, The Goldman Sachs Group began coverage on LifeStance Health Group in a research report on Friday, June 5th. They issued a "neutral" rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, LifeStance Health Group has an average rating of "Moderate Buy" and a consensus price target of $11.50.

LifeStance Health Group Price Performance

Shares of NASDAQ:LFST opened at $10.81 on Friday. LifeStance Health Group has a twelve month low of $3.74 and a twelve month high of $11.76. 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 has a market cap of $4.19 billion, a PE ratio of 180.17 and a beta of 1.12. The company's 50 day moving average is $9.27 and its 200 day moving average is $7.79.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The business had revenue of $403.48 million for the quarter, compared to the consensus estimate of $387.46 million. The firm'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 EPS for the current year.

Insider Activity

In other LifeStance Health Group news, Director Darren M. Black sold 5,899,661 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 $47,315,281.22. Following the completion of the transaction, the director directly owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. The transaction 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 transaction of $9,059,633.81. Following the transaction, the director directly owned 539,763 shares in the company, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,687,394 shares of company stock worth $63,579,701 in the last ninety days. Company insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LFST. Royal Bank of Canada raised its holdings in shares of LifeStance Health Group by 63.4% during the first quarter. Royal Bank of Canada now owns 70,248 shares of the company's stock valued at $468,000 after acquiring an additional 27,244 shares during the last quarter. AQR Capital Management LLC increased its position in shares of LifeStance Health Group by 223.0% during the first quarter. AQR Capital Management LLC now owns 51,500 shares of the company's stock worth $343,000 after purchasing an additional 35,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of LifeStance Health Group by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company's stock worth $952,000 after purchasing an additional 4,169 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in LifeStance Health Group by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 615,652 shares of the company's stock valued at $4,100,000 after purchasing an additional 11,331 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in LifeStance Health Group by 10.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 550,657 shares of the company's stock valued at $2,847,000 after purchasing an additional 51,154 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company's stock.

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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