LifeMD, Inc. (NASDAQ:LFMD) Stock Has Average Price Target of $7.57

LifeMD, Inc. (NASDAQ:LFMD) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.57.

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LifeMD in a report on Tuesday, August 4th. BTIG Research cut their price objective on LifeMD from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Zacks Research raised shares of LifeMD from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. B. Riley Financial assumed coverage on LifeMD in a research note on Friday, September 11th. They set a “buy” rating and a $8.00 price target for the company. Finally, KeyCorp set a $5.00 target price on shares of LifeMD and gave the stock an “overweight” rating in a research report on Friday, August 7th.

LifeMD Price Performance

LFMD opened at $2.72 on Friday. The company’s 50-day moving average is $3.24 and its 200 day moving average is $3.95. LifeMD has a fifty-two week low of $2.56 and a fifty-two week high of $7.12. The firm has a market capitalization of $131.10 million, a P/E ratio of -54.39 and a beta of 1.99.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. The firm had revenue of $47.28 million during the quarter, compared to analysts’ expectations of $49.16 million. On average, equities research analysts expect that LifeMD will post -0.48 earnings per share for the current year.

Institutional Trading of LifeMD

Institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of LifeMD by 8.0% during the second quarter. BlackRock Inc. now owns 3,034,535 shares of the company’s stock worth $12,533,000 after purchasing an additional 225,510 shares in the last quarter. State Street Corp boosted its stake in LifeMD by 22.6% in the second quarter. State Street Corp now owns 1,318,784 shares of the company’s stock worth $5,447,000 after buying an additional 243,376 shares in the last quarter. Whetstone Capital Advisors LLC boosted its stake in LifeMD by 89.6% in the fourth quarter. Whetstone Capital Advisors LLC now owns 703,053 shares of the company’s stock worth $2,397,000 after buying an additional 332,269 shares in the last quarter. Walleye Capital LLC bought a new position in LifeMD during the second quarter valued at approximately $1,338,000. Finally, Russell Investments Group Ltd. grew its position in LifeMD by 5,801.2% during the second quarter. Russell Investments Group Ltd. now owns 314,770 shares of the company’s stock valued at $1,300,000 after acquiring an additional 309,436 shares during the last quarter. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

LifeMD Company Profile

LifeMD, Inc is a U.S.-based telehealth company that provides virtual medical care through its digital health platform. The company connects patients with licensed health care professionals through online consultations and supports diagnosis, treatment, prescription management and ongoing care without requiring an in-person visit.

Its services include virtual primary care and programs focused on areas such as weight management, men’s and women’s health, dermatology and other common health needs.