LifeStance Health Group (NASDAQ:LFST) Rating Increased to Buy at Wall Street Zen

Key Points

• LifeStance Health Group has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting a growing confidence in the company's stock performance.
• Recently, several research reports have set new price targets for LifeStance, with UBS Group raising their target from $8.50 to $9.00, while the consensus price target remains at $8.50.
• The company reported a quarterly revenue of $345.31 million, exceeding expectations and indicating a year-over-year revenue growth of 10.6%.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other equities research analysts have also commented on LFST. BTIG Research initiated coverage on shares of LifeStance Health Group in a research report on Friday, July 25th. They set a "buy" rating and a $8.00 price target for the company. UBS Group upped their price target on shares of LifeStance Health Group from $8.50 to $9.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, LifeStance Health Group presently has an average rating of "Moderate Buy" and an average price target of $8.50.

LifeStance Health Group Stock Performance

Shares of LFST stock traded up $0.40 on Friday, reaching $5.06. The stock had a trading volume of 2,324,614 shares, compared to its average volume of 1,936,536. The stock has a market cap of $1.97 billion, a P/E ratio of -101.10 and a beta of 1.13. LifeStance Health Group has a 1 year low of $3.74 and a 1 year high of $8.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.47 and a current ratio of 1.48. The company has a 50 day simple moving average of $4.72 and a 200 day simple moving average of $6.14.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. LifeStance Health Group had a negative net margin of 1.23% and a negative return on equity of 1.11%. The firm had revenue of $345.31 million during the quarter, compared to analyst estimates of $345.05 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts expect that LifeStance Health Group will post -0.18 EPS for the current year.

Insider Activity

In related news, insider Ujjwal Ramtekkar sold 16,000 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $5.94, for a total transaction of $95,040.00. Following the completion of the transaction, the insider directly owned 113,435 shares in the company, valued at approximately $673,803.90. The trade was a 12.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new position in LifeStance Health Group in the 1st quarter worth approximately $31,000. Park Edge Advisors LLC bought a new position in LifeStance Health Group in the 2nd quarter worth approximately $52,000. Xponance Inc. bought a new position in LifeStance Health Group in the 1st quarter worth approximately $69,000. Public Employees Retirement System of Ohio bought a new position in LifeStance Health Group in the 2nd quarter worth approximately $70,000. Finally, Blair William & Co. IL bought a new position in LifeStance Health Group in the 2nd quarter worth approximately $70,000. 85.50% of the stock is currently owned by institutional investors.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.