Analysts Set LifeStance Health Group, Inc. (NASDAQ:LFST) Price Target at $9.83

LifeStance Health Group, Inc. (NASDAQ:LFST) has been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.8333.

Several research analysts have issued reports on the company. Barclays increased their price target on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Jefferies Financial Group raised LifeStance Health Group to a “strong-buy” rating in a research report on Thursday, March 12th. Wall Street Zen upgraded LifeStance Health Group from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. BTIG Research lifted their price target on shares of LifeStance Health Group from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, KeyCorp boosted their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th.

LifeStance Health Group Price Performance

Shares of NASDAQ LFST opened at $6.40 on Thursday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 320.16 and a beta of 1.11. The firm’s 50-day moving average price is $7.00 and its 200-day moving average price is $6.35. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17. LifeStance Health Group has a 1-year low of $3.74 and a 1-year high of $8.09.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). LifeStance Health Group had a net margin of 0.68% and a return on equity of 0.65%. The firm had revenue of $382.20 million during the quarter, compared to analyst estimates of $378.51 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts anticipate that LifeStance Health Group will post -0.18 earnings per share for the current fiscal year.

LifeStance Health Group declared that its board has authorized a share repurchase plan on Wednesday, February 25th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Darren M. Black sold 4,314,939 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the completion of the sale, the director directly owned 29,209,776 shares of the company’s stock, valued at $204,760,529.76. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of LifeStance Health Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of LifeStance Health Group by 6.9% in the fourth quarter. Invesco Ltd. now owns 205,486 shares of the company’s stock worth $1,447,000 after purchasing an additional 13,177 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of LifeStance Health Group by 148.8% in the fourth quarter. Vident Advisory LLC now owns 37,462 shares of the company’s stock valued at $264,000 after purchasing an additional 22,406 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of LifeStance Health Group during the fourth quarter valued at approximately $96,000. Zacks Investment Management boosted its position in shares of LifeStance Health Group by 33.1% during the fourth quarter. Zacks Investment Management now owns 45,291 shares of the company’s stock valued at $319,000 after buying an additional 11,270 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in LifeStance Health Group by 58.8% during the fourth quarter. Janus Henderson Group PLC now owns 94,500 shares of the company’s stock worth $666,000 after buying an additional 35,000 shares in the last quarter. 85.50% of the stock is owned by institutional investors.

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.