LifeStance Health Group (NASDAQ:LFST) Shares Gap Up - Time to Buy?

Key Points

• LifeStance Health Group's stock price gapped up to $4.97 at open, from a previous close of $4.66, with recent trading at around $5.02.
• Analysts have shifted their ratings, with Wall Street Zen upgrading to a "buy" and UBS increasing the price target from $8.50 to $9.00, suggesting a positive outlook on the stock.
• The company's most recent earnings report showed a revenue increase of 10.6% year-over-year, with an earnings per share (EPS) of ($0.01), exceeding analyst expectations.

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.66, but opened at $4.97. LifeStance Health Group shares last traded at $5.02, with a volume of 1,302,250 shares changing hands.

Analyst Ratings Changes

Several research firms have issued reports on LFST. BTIG Research assumed coverage on LifeStance Health Group in a report on Friday, July 25th. They issued a "buy" rating and a $8.00 price target on the stock. UBS Group upped their target price on LifeStance Health Group from $8.50 to $9.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised LifeStance Health Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

LifeStance Health Group Price Performance

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $6.07. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -108.20 and a beta of 1.13.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $345.05 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. On average, equities research analysts forecast that LifeStance Health Group, Inc. will post -0.18 EPS for the current fiscal year.

Insider Transactions at LifeStance Health Group

In other LifeStance Health Group news, insider Ujjwal Ramtekkar sold 16,000 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $5.94, for a total value of $95,040.00. Following the transaction, the insider directly owned 113,435 shares of the company's stock, valued at $673,803.90. This represents a 12.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On LifeStance Health Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LFST. DekaBank Deutsche Girozentrale bought a new position in shares of LifeStance Health Group during the 1st quarter valued at $31,000. Park Edge Advisors LLC acquired a new stake in shares of LifeStance Health Group in the second quarter worth about $52,000. Bayesian Capital Management LP bought a new stake in shares of LifeStance Health Group during the 2nd quarter worth about $52,000. Xponance Inc. acquired a new position in shares of LifeStance Health Group during the 1st quarter valued at about $69,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in LifeStance Health Group in the 2nd quarter worth approximately $70,000. Institutional investors own 85.50% of the company's stock.

About LifeStance Health Group

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.