LifeStance Health Group (NASDAQ:LFST) Price Target Raised to $20.00

LifeStance Health Group (NASDAQ:LFST) had its price target lifted by equities research analysts at BTIG Research from $18.00 to $20.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research‘s price objective indicates a potential upside of 48.71% from the stock’s previous close.

A number of other equities analysts also recently issued reports on 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. Barclays upped their target price on shares of LifeStance Health Group from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Canaccord Genuity Group increased their price target on shares of LifeStance Health Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. KeyCorp lifted their price target on shares of LifeStance Health Group from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, October 5th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

LifeStance Health Group Stock Performance

LifeStance Health Group stock traded down $0.76 during mid-day trading on Thursday, reaching $13.45. 11,034,221 shares of the stock traded hands, compared to its average volume of 3,661,114. LifeStance Health Group has a 12-month low of $5.10 and a 12-month high of $15.66. The business’s 50-day moving average is $12.56 and its 200-day moving average is $9.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $5.14 billion, a PE ratio of 103.46 and a beta of 1.35.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $455.86 million for the quarter, compared to analysts’ expectations of $431.59 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%. LifeStance Health Group’s revenue was up 25.3% compared to the same quarter last year. As a group, sell-side analysts predict that LifeStance Health Group will post 0.16 EPS for the current fiscal year.

Insider Transactions at LifeStance Health Group

In other news, CTO Vukasin Paunovich sold 44,394 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $10.85, for a total value of $481,674.90. Following the transaction, the chief technology officer owned 247,446 shares of the company’s stock, valued at $2,684,789.10. This trade represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Lisa Miller sold 47,912 shares of LifeStance Health Group stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.85, for a total value of $519,845.20. Following the transaction, the chief operating officer directly owned 281,289 shares in the company, valued at approximately $3,051,985.65. The trade was a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,777,580 shares of company stock valued at $146,433,781 over the last quarter. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LifeStance Health Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in LifeStance Health Group during the second quarter valued at approximately $389,293,000. Dimensional Fund Advisors LP increased its stake in shares of LifeStance Health Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company’s stock worth $66,038,000 after purchasing an additional 1,461,215 shares in the last quarter. Jennison Associates LLC increased its stake in shares of LifeStance Health Group by 38.5% in 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 in the last quarter. Wellington Management Group LLP bought a new stake in shares of LifeStance Health Group during the 2nd quarter valued at $30,881,000. Finally, Bank of America Corp DE bought a new stake in shares of LifeStance Health Group during the 2nd quarter valued at $14,987,000. Institutional investors own 85.50% of the company’s stock.

Key LifeStance Health Group News

Here are the key news stories impacting LifeStance Health Group this week:

• Positive Sentiment: Q3 earnings were $0.06 per share, above estimates of $0.03–$0.04 and up from break-even a year earlier. Revenue rose 25.3% year over year to $455.9 million, topping the $431.6 million FactSet estimate. Zacks Q3 results
• Positive Sentiment: LifeStance raised its full-year outlook, adding to investor optimism about its growth and financial performance. Company earnings release

About LifeStance Health Group

LifeStance Health Group, Inc is a provider of outpatient behavioral health services in the United States. Through a network of clinicians and care centers, the company offers mental health care through in-person appointments and telehealth visits.

LifeStance’s services include individual, couples and family therapy; psychiatric evaluation and medication management; psychological and neuropsychological testing; and treatment for conditions such as depression, anxiety, attention-deficit/hyperactivity disorder, bipolar disorder, post-traumatic stress disorder and other behavioral health concerns.