LifeStance Health Group, Inc. (NASDAQ:LFST) Given Average Recommendation of “Buy” by Analysts

LifeStance Health Group, Inc. (NASDAQ:LFST) has been given an average rating of “Buy” by the ten research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.8571.

A number of analysts have recently commented on LFST shares. Canaccord Genuity Group boosted their target price on shares of LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, February 26th. KeyCorp upped their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen raised LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. boosted their target price on LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Jefferies Financial Group raised LifeStance Health Group to a “strong-buy” rating in a research report on Thursday, March 12th.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Darren M. Black sold 5,899,661 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $47,315,281.22. Following the completion of the transaction, the director owned 23,310,115 shares of the company’s stock, valued at approximately $186,947,122.30. The trade was a 20.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Shuey sold 243,362 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $1,951,763.24. Following the completion of the transaction, the director directly owned 867,562 shares of the company’s stock, valued at approximately $6,957,847.24. This trade represents a 21.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,868,057 shares of company stock valued at $55,048,226. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On LifeStance Health Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. increased its position in shares of LifeStance Health Group by 17.0% during 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 last quarter. Park Edge Advisors LLC increased its position in shares of LifeStance Health Group by 14.4% during the 4th quarter. Park Edge Advisors LLC now owns 11,863 shares of the company’s stock valued at $84,000 after purchasing an additional 1,495 shares during the last quarter. California State Teachers Retirement System increased its position in shares of LifeStance Health Group by 1.6% during the 4th quarter. California State Teachers Retirement System now owns 125,682 shares of the company’s stock valued at $885,000 after purchasing an additional 1,966 shares during the last quarter. Vident Advisory LLC increased its position in shares of LifeStance Health Group by 12.7% during the 2nd quarter. Vident Advisory LLC now owns 21,732 shares of the company’s stock valued at $112,000 after purchasing an additional 2,447 shares during the last quarter. Finally, Xponance LLC increased its position in shares of LifeStance Health Group by 26.4% during the 4th quarter. Xponance LLC now owns 13,144 shares of the company’s stock valued at $93,000 after purchasing an additional 2,745 shares during the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Stock Performance

NASDAQ:LFST opened at $7.94 on Tuesday. The stock has a market cap of $3.08 billion, a P/E ratio of 132.33 and a beta of 1.19. The firm’s fifty day simple moving average is $7.10 and its 200 day simple moving average is $6.97. LifeStance Health Group has a twelve month low of $3.74 and a twelve month high of $8.89. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The business had revenue of $403.48 million for the quarter, compared to analysts’ expectations of $387.46 million. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, research analysts predict that LifeStance Health Group will post 0.12 EPS for the current year.

LifeStance Health Group declared that its Board of Directors has authorized a share buyback program on Wednesday, February 25th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

About LifeStance Health Group

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.