LifeStance Health Group (NASDAQ:LFST) Sees Unusually-High Trading Volume After Analyst Upgrade

Key Points

• LifeStance shares traded 21% above average volume after Canaccord Genuity raised its price target from $15 to $16 and reiterated a Buy rating; shares last traded at $13.83.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and a $13.75 average price target, while KeyCorp recently raised its target to $17.
• Quarterly results beat expectations: EPS was $0.06 versus a $0.04 estimate, and revenue of $455.86 million exceeded forecasts and rose 25.3% year over year.

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) shares saw unusually-strong trading volume on Monday after Canaccord Genuity Group raised their price target on the stock from $15.00 to $16.00. Canaccord Genuity Group currently has a buy rating on the stock. 4,419,340 shares changed hands during trading, an increase of 21% from the average daily volume of 3,664,276 shares. The stock last traded at $13.8250 and had previously closed at $13.77.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of LifeStance Health Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of LifeStance Health Group from $9.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. Zacks Research cut shares of LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, KeyCorp increased their target price on shares of LifeStance Health Group from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.75.

Insider Activity

In other news, CTO Vukasin Paunovich sold 42,067 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $12.87, for a total transaction of $541,402.29. Following the completion of the sale, the chief technology officer directly owned 205,379 shares of the company's stock, valued at $2,643,227.73. This represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.50% of the stock is owned by company insiders.

Institutional Trading of LifeStance Health Group

Several institutional investors and hedge funds have recently bought and sold shares of LFST. Profund Advisors LLC boosted its position in LifeStance Health Group by 7.1% during the 3rd quarter. Profund Advisors LLC now owns 11,944 shares of the company's stock worth $144,000 after acquiring an additional 788 shares during the period. Assetmark Inc. increased its holdings in shares of LifeStance Health Group by 17.0% in the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company's stock valued at $60,000 after purchasing an additional 1,367 shares during the period. Signaturefd LLC increased its holdings in shares of LifeStance Health Group by 35.6% in the 3rd quarter. Signaturefd LLC now owns 5,357 shares of the company's stock valued at $64,000 after purchasing an additional 1,405 shares during the period. Everhart Financial Group Inc. increased its holdings in shares of LifeStance Health Group by 1.3% in the 3rd quarter. Everhart Financial Group Inc. now owns 112,844 shares of the company's stock valued at $1,358,000 after purchasing an additional 1,435 shares during the period. Finally, Allworth Financial LP lifted its position in shares of LifeStance Health Group by 7.7% in the second quarter. Allworth Financial LP now owns 26,532 shares of the company's stock worth $284,000 after purchasing an additional 1,889 shares in the last quarter. Institutional investors and hedge funds own 85.50% of the company's stock.

LifeStance Health Group Stock Up 0.5%

The business's 50-day moving average price is $12.62 and its 200-day moving average price is $9.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5.29 billion, a PE ratio of 72.82 and a beta of 1.35.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. LifeStance Health Group had a net margin of 4.29% and a return on equity of 4.82%. The business had revenue of $455.86 million during the quarter, compared to analysts' expectations of $431.59 million. LifeStance Health Group's quarterly revenue was up 25.3% on a year-over-year basis. As a group, equities research analysts predict that LifeStance Health Group, Inc. will post 0.17 EPS for the current fiscal year.

About LifeStance Health Group

LifeStance Health Group, Inc is a U.S. provider of outpatient mental health services. The company offers care through in-person clinics and virtual appointments, connecting patients with behavioral health professionals.

Its services include psychotherapy, psychiatric evaluations and medication management. LifeStance's clinicians treat a range of mental health conditions, including anxiety, depression, attention-deficit/hyperactivity disorder and mood disorders.

Founded in 2017, LifeStance has expanded its network across the United States.

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