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

Key Points

• Wall Street Zen upgraded LifeStance Health Group to “strong-buy” from “buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $12.12.
• LifeStance reported quarterly EPS of $0.06, beating the $0.03 consensus estimate, while revenue reached $435.35 million, up 26.1% year over year and above expectations.
• The stock opened at $12.42, near its 52-week high of $12.76, but insiders sold approximately 14.63 million shares worth $155 million over the past 90 days.

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

Several other research firms have also issued reports on LFST. The Goldman Sachs Group assumed coverage on LifeStance Health Group in a report on Friday, June 5th. They set a "neutral" rating and a $9.00 target price on the stock. KeyCorp raised their price target on LifeStance Health Group from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Barclays raised their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Weiss Ratings raised LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Finally, BTIG Research upped their price objective on LifeStance Health Group from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, LifeStance Health Group presently has an average rating of "Moderate Buy" and an average target price of $12.12.

LifeStance Health Group Stock Up 1.6%

LifeStance Health Group stock opened at $12.42 on Friday. The company has a market cap of $4.82 billion, a P/E ratio of 95.55 and a beta of 1.14. LifeStance Health Group has a 1-year low of $4.77 and a 1-year high of $12.76. The company has a fifty day simple moving average of $10.39 and a 200 day simple moving average of $8.22. 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 results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The firm had revenue of $435.35 million for the quarter, compared to analysts' expectations of $414.58 million. During the same period in the previous year, the firm posted ($0.01) EPS. The company's revenue for the quarter was up 26.1% on a year-over-year basis. Research analysts anticipate that LifeStance Health Group will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Vukasin Paunovich sold 44,394 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.85, for a total value of $481,674.90. Following the sale, the chief technology officer directly owned 247,446 shares of the company's stock, valued at approximately $2,684,789.10. This represents a 15.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Lisa K. Miller sold 47,912 shares of the firm's stock in a transaction dated 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 $3,051,985.65. This trade represents 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 in the last 90 days. 3.50% of the stock is owned by company insiders.

Institutional Trading of LifeStance Health Group

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of LifeStance Health Group during the 2nd quarter worth approximately $389,293,000. Vanguard Group Inc. raised its stake in LifeStance Health Group by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company's stock valued at $124,608,000 after acquiring an additional 3,086,506 shares during the period. Silversmith Partners I GP LLC acquired a new stake in LifeStance Health Group during the 4th quarter valued at $100,842,000. Dimensional Fund Advisors LP lifted its holdings in LifeStance Health Group by 16.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company's stock valued at $66,038,000 after purchasing an additional 1,461,215 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in 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 during the period. 85.50% of the stock is owned by institutional investors and hedge funds.

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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